New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 27 - Excess Line Placements Governing Standards
Section 27.12 - Service fees
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 27.12
Current through Register Vol. 46, No. 39, September 25, 2024
A producing broker or excess line broker, when the insured's home state is this State, shall not charge the insured any amount (including reimbursement for premium taxes or stamping fees), other than the premiums for the policy or insurer's policy fee, if any, unless the broker obtains a written memorandum, signed by the insured, specifying the amount and purpose in accordance with section 2119 of the Insurance Law.
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