Extends exemption from filing requirements for rates and policy forms to businesses underwritten outside New York.

New York Assembly Bill A03888 amends the insurance law to extend the exemption from filing requirements for rates and policy forms to businesses underwritten and transacted from an office outside the state. This exemption applies if the business is licensed as an insurance producer in New York, unless exempted from licensing. The exemption is limited to policies issued to large commercial insureds employing a special risk manager, provided the manager is not employed by the insurer or its holding company.

Extends exemption from filing requirements for rates and policy forms to businesses underwritten outside New York.

New York Assembly Bill A03888 amends the insurance law to extend the exemption from filing requirements for rates and policy forms to businesses underwritten and transacted from an office outside the state. This exemption applies if the business is licensed as an insurance producer in New York, unless exempted from licensing. The exemption is limited to policies issued to large commercial insureds employing a special risk manager, provided the manager is not employed by the insurer or its holding company.