New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter XII - Group Property/casualty Insurance
Part 301 - Purchasing Groups
Section 301.7 - Aiding unauthorized insurers

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 301.7

Current through Register Vol. 46, No. 39, September 25, 2024

Except as specifically permitted for an insurance broker or an excess line broker under section 2117 or 2118 of the Insurance Law, in connection with the procurement of liability insurance for a purchasing group or a member of such purchasing group, no purchasing group, its representative or any other person, firm, association or corporation shall in this State:

(a) solicit, negotiate or effectuate any insurance contract, or place risks with an unauthorized insurer;

(b) act as agent for an unauthorized insurer, or aid an unauthorized insurer, in any manner in effecting such a contract;

(c) call attention by advertisement or public announcement to an unauthorized insurer; or

(d) act in any other manner that would violate section 2117 or 2122 of the Insurance Law.

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