New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter B - Property and Casualty Insurance
Part 69 - Mortgage Pool Insurance
Section 69.4 - Limitations under reinsurance contracts
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 69.4
Current through Register Vol. 46, No. 39, September 25, 2024
For policies issued prior to January 11, 1995, the mortgage insurer shall cede any risk in excess of 25 percent of the entire indebtedness on an individual loan. The assuming insurer to a reinsurance agreement under a pool insurance policy must be authorized to do business in New York State and shall be subject to the same limitations and restrictions on its portion of retention or assumed insurance writings as the direct writer.
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