New York S04964 amends the insurance law to require a broker to obtain a declination from an association or apply for insurance through a plan before.

New York S04964 amends the insurance law to mandate that a broker must obtain a declination from an association or apply for insurance through a plan before placing medical malpractice insurance with an unauthorized insurer. This requirement ensures that the broker has made a diligent effort to secure insurance from authorized sources. The broker must also provide written notice to the insured that the placement was made with an unauthorized insurer. This bill aims to regulate the placement of medical malpractice insurance to protect consumers.

New York S04964 amends the insurance law to require a broker to obtain a declination from an association or apply for insurance through a plan before.

New York S04964 amends the insurance law to mandate that a broker must obtain a declination from an association or apply for insurance through a plan before placing medical malpractice insurance with an unauthorized insurer. This requirement ensures that the broker has made a diligent effort to secure insurance from authorized sources. The broker must also provide written notice to the insured that the placement was made with an unauthorized insurer. This bill aims to regulate the placement of medical malpractice insurance to protect consumers.