Assembly Bill A9088

2021-2022 Legislative Session

Simplifies the excess line insurance placement affidavit requirements

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S8127 - Passed Assembly

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-A9088 (ACTIVE) - Details

See Senate Version of this Bill:
S8127
Law Section:
Insurance Law
Laws Affected:
Amd §2118, Ins L

2021-A9088 (ACTIVE) - Summary

Simplifies the excess line insurance placement affidavit requirements.

2021-A9088 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9088
 
                           I N  A S S E M B L Y
 
                             January 31, 2022
                                ___________
 
 Introduced by M. of A. HUNTER -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to 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 (C)  of  paragraph  3  of  subsection  (b)  of
 section 2118 of the insurance law, as amended by chapter 684 of the laws
 of 1993, is amended to read as follows:
   (C) Every licensee, or affirming broker, in connection with the place-
 ment of each risk pursuant to this section NOT OTHERWISE EXEMPT FROM THE
 DILIGENT    EFFORT  REQUIREMENT,  shall record on the affidavit required
 pursuant to subparagraph (A) of this paragraph the NAME   AND   NATIONAL
 ASSOCIATION   OF INSURANCE COMMISSIONERS CODE OF EACH AUTHORIZED INSURER
 DECLINING A RISK AND information relied upon that formed  the  basis  of
 such licensee's or affirming broker's reason to believe that the author-
 ized  insurer  might  consider  writing the type of coverage or class of
 insurance involved. NO ADDITIONAL DILIGENT EFFORT INFORMATION  SHALL  BE
 REPORTED ON THE AFFIDAVIT.
   §  2.  This act shall take effect immediately, provided, however, that
 the amendments to subparagraph (C) of paragraph 3 of subsection  (b)  of
 section  2118 of the insurance law made by section one of this act shall
 not affect the expiration of such subsection  and  shall  be  deemed  to
 expire therewith.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14285-01-2

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