senate Bill S769A

2019-2020 Legislative Session

Relates to permitting certain insurance coverage to be placed by licensed excess line brokers with excess line insurers without regard to the diligent effort requirement

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Sponsored By

Current Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 30, 2019 referred to insurance
delivered to assembly
passed senate
May 01, 2019 advanced to third reading
Apr 30, 2019 2nd report cal.
Apr 29, 2019 1st report cal.461
Mar 18, 2019 print number 769a
Mar 18, 2019 amend and recommit to insurance
Jan 09, 2019 referred to insurance

Co-Sponsors

S769 - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§2118 & 2119, Ins L

S769 - Summary

Relates to permitting certain insurance coverage to be placed by licensed excess line brokers with excess line insurers without regard to the diligent effort requirement and simplifying the excess line insurance placement affidavit requirements.

S769 - Sponsor Memo

S769 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   769

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2019
                               ___________

Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in  relation  to  permitting  certain
  insurance  coverage  to  be placed by licensed excess line broker with
  unauthorized insurers without regard to the diligent  effort  require-
  ment  and  simplifying  the  excess line insurance placement affidavit
  requirements

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subparagraph  (A)  of  paragraph  3  of subsection (b) of
section 2118 of the insurance law, as amended by section 12 of part I of
chapter 61 of the laws of 2011, is amended to read as follows:
  (A) Except as provided in subparagraph (F) AND SUBJECT TO SUBPARAGRAPH
(C) of this paragraph, submission of insurance documents to  the  excess
line  association shall be accompanied by a statement subscribed to, and
affirmed by, the licensee or sublicensee as true under the penalties  of
perjury  that,  after  diligent  effort,  the  full  amount of insurance
required could not be procured, from authorized insurers, each of  which
is  authorized  to  write  insurance of the kind requested and which the
licensee has reason to believe might consider writing the type of cover-
age or class of insurance involved, and further showing that the  amount
of  insurance  procured  from an unauthorized insurer is only the excess
over the amount procurable from an  authorized  insurer.  The  licensee,
however,  shall  be  excused  from  affirming that a diligent effort, as
defined above, was made to procure the coverage from authorized insurers
if the licensee's affidavit is accompanied by the affidavit  of  another
broker  involved  in the placement affirming as true under the penalties
of perjury that, after diligent effort  by  the  affirming  broker,  the
required  insurance  could  not  be  procured from an authorized insurer
which the affirming broker had reason to believe might consider  writing

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

S769A (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§2118 & 2119, Ins L

S769A (ACTIVE) - Summary

Relates to permitting certain insurance coverage to be placed by licensed excess line brokers with excess line insurers without regard to the diligent effort requirement and simplifying the excess line insurance placement affidavit requirements.

S769A (ACTIVE) - Sponsor Memo

S769A (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 769--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2019
                               ___________

Introduced  by  Sens. BRESLIN, BROOKS -- read twice and ordered printed,
  and when printed to be committed to  the  Committee  on  Insurance  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the insurance law, in  relation  to  permitting  certain
  insurance  coverage  to  be placed by licensed excess line broker with
  unauthorized insurers without regard to the diligent  effort  require-
  ment  and  simplifying  the  excess line insurance placement affidavit
  requirements

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subparagraph  (A)  of  paragraph  3  of subsection (b) of
section 2118 of the insurance law, as amended by section 12 of part I of
chapter 61 of the laws of 2011, is amended to read as follows:
  (A) Except as provided in subparagraph (F) AND SUBJECT TO SUBPARAGRAPH
(C) of this paragraph, submission of insurance documents to  the  excess
line  association shall be accompanied by a statement subscribed to, and
affirmed by, the licensee or sublicensee as true under the penalties  of
perjury  that,  after  diligent  effort,  the  full  amount of insurance
required could not be procured, from authorized insurers, each of  which
is  authorized  to  write  insurance of the kind requested and which the
licensee has reason to believe might consider writing the type of cover-
age or class of insurance involved, and further showing that the  amount
of  insurance  procured  from an unauthorized insurer is only the excess
over the amount procurable from an  authorized  insurer.  The  licensee,
however,  shall  be  excused  from  affirming that a diligent effort, as
defined above, was made to procure the coverage from authorized insurers
if the licensee's affidavit is accompanied by the affidavit  of  another
broker  involved  in the placement affirming as true under the penalties
of perjury that, after diligent effort  by  the  affirming  broker,  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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