New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter I - GENERAL PROVISIONS
Part 16 - SPECIAL RISK INSURANCE
Section 16.6 - Licensing

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 16.6

Current through Register Vol. 46, No. 39, September 25, 2024

(a) An authorized insurer may apply for a special risk license to transact business written pursuant to section 6302 of the Insurance Law by completing an application form, prescribed by the superintendent and available from the Property Bureau of the Department of Financial Services. Every special risk license shall be issued for a term expiring on August 31st. Every such license may be renewed for the ensuing period of 12 months upon the filing of an application in conformity with this Part.

(b) An insurer shall file an application for a renewal license with the superintendent not less than 30 days prior to the date the license expires.

(c) Nothing in this Part shall authorize an insurer to do any kind of insurance business for which it is not licensed in this State.

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