New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 27 - Excess Line Placements Governing Standards
Section 27.10 - Policy form compliance
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 27.10
Current through Register Vol. 46, No. 39, September 25, 2024
(a) A policy issued by an unauthorized insurer pursuant to this Part is exempt from the provisions of Part 71 (Regulation 107) and Part 73 (Regulation 121) of this Title, except for a group policy issued pursuant to section 3455 or 3458 of the Insurance Law.
(b) When the insured's home state is this State, a complete copy of any liability insurance policy shall be maintained by the excess line broker, provided, however, the broker need not maintain a copy of any policy that provides liability coverage:
(1) only on an occurrence basis;
and
(2) only with unlimited legal
defense costs outside the limits of liability stated in the policy.
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