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

This bill 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 New York. The exemption applies if the business produces a minimum annual premium exceeding $100,000 or a higher amount set by the superintendent. The exemption also applies if the coverage is for a risk or class of risks deemed unusual, high loss hazard, or difficult to place. The exemption does not apply if the special risk manager is employed by the insurer or any person in the insurer's holding company system.

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

This bill 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 New York. The exemption applies if the business produces a minimum annual premium exceeding $100,000 or a higher amount set by the superintendent. The exemption also applies if the coverage is for a risk or class of risks deemed unusual, high loss hazard, or difficult to place. The exemption does not apply if the special risk manager is employed by the insurer or any person in the insurer's holding company system.