New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter B - Life Insurers
Part 93 - Aircraft Reinsurance By Life Insurers
Section 93.2 - Notice of intention; approval
Current through Register Vol. 46, No. 39, September 25, 2024
Any authorized life insurance company which, pursuant to the authority granted by section 1114 (d) of the Insurance Law, intends to enter the aircraft reinsurance business whether individually or together with other insurers, must:
(a) file a notice of intention in writing to the superintendent. Such notice of intention shall set forth the amount of surplus it proposes to allocate to the aircraft reinsurance business; its proposed plan of operations; whether it intends to reinsure conventional aircraft, space vehicles or both; the qualifications of its staff to engage in the aircraft reinsurance business; proof that its charter and, in the case of a foreign or alien life insurer, the laws of its place of domicile authorize it to engage in such kind of business; and proof, in the case of a foreign or alien life insurer, the laws of its place of domicile authorize it to engage in such kind of business; and proof, in the case of a foreign or alien life insurer, that the insurance regulatory authorities of its place of domicile have been informed of its intended participation and have not objected to such participation; and
(b) obtain the advance written approval of the superintendent prior to such entrance.
