New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter I - GENERAL PROVISIONS
Part 16 - SPECIAL RISK INSURANCE
Section 16.9 - Records maintenance and examination
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 16.9
Current through Register Vol. 46, No. 39, September 25, 2024
(a) An insurer granted a special risk license by the superintendent pursuant to section 6302 of the Insurance Law shall maintain in this State an underwriting office:
(1) that shall be under the control of the
insurer's management and staffed with personnel who are charged with the
responsibility for making underwriting decisions relating to policies issued
pursuant to this Part; and
(2) in
which the insurer shall maintain or have electronic access to the underwriting
files, experience statistics, financial and other records, applicable to
business underwritten and transacted under section
6302 of the
Insurance Law, subject to examination by the superintendent as often as the
superintendent deems necessary.
(b) An insurer that does not renew its special risk license shall make its records regarding special risk business available to the superintendent upon request.
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