X
    X
    X
    X

    New York Proposes Changes to Excess line Placements Governing Standards (Regulation 41)

    Publications
    The New York Department of Financial Services (the “NY DFS”) has released proposed amendments to Insurance Regulation 41 (11 NYCRR Part 27), which governs the standards for excess lines placements. The proposed amendments, if enacted, would include removal of the requirement that foreign insurers maintain a $2.5 million trust and the adoption of a new electronic reporting format for excess lines insurers. The NY DFS is still reviewing comments from interested parties and is considering making further revisions. Consequently, an effective date has not been set. We will continue to follow this issue and provide further updates on InsureReinsure.com.

    Explore Additional Topics

    Disclaimer

    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.