New York S05048 amends insurance law to allow providers to maintain up to five service contract reimbursement insurance policies.
New York S05048 amends the insurance law to allow providers to maintain a maximum of five service contract reimbursement insurance policies. These policies must insure the performance of the provider's obligations under all service contracts actively offered. The bill specifies that these policies can be issued by an insurer authorized in New York or procured by an excess line licensee under section two thousand one hundred eighteen of the insurance chapter.
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