New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter B - Property and Casualty Insurance
Part 72 - Indemnification Of Directors And Officers
Section 72.4 - Minimum schedule
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 72.4
Current through Register Vol. 46, No. 12, March 20, 2024
| Type of corporation | Minimum retention amounts | Minimum coinsurance percentage | ||
| Individual | Aggregate | |||
| (a) | For corporations subject to the B.L. or B.C.L. (including insurance corporations, transportation corporations, etc. and with: | |||
| (1) assets greater than $20,000,000: | $5,000 | $50,000 | 0.5% | |
| (2) assets greater than $10,000,000 up to $20,000,000: | 4,000 | 40,000 | 0.4% | |
| (3) assets greater than $5,000,000 up to $10,000,000: | 3,000 | 30,000 | 0.3% | |
| (4) assets of $5,000,000 or less: | 2,000 | 20,000 | 0.2% | |
| (b) | Corporations subject to the Cooperative Corporations Law: | 100 | 1,000 | 0.1% |
| (c) | Corporations subject to the Religious Corporations Law: | 100 | 1,000 | 0.1% |
| (d) | Corporations subject to the N-PCL | 100 | 1,000 | 0.1% |
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