New York Weighs Easing Excess Lines Rules

New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing next month to explore the possibility of increasing insurance capacity in New York by easing access to non-standard market insurers.

The New York State Insurance Department hopes to get input from the public as it determines whether to revise eligible coverages on the state’s so-called export list – essentially a catalog of coverage that excess lines brokers can place without first having standard market carriers decline to insure a risk.

The Excess Line Association of New York has proposed the addition of several new classes to the export list.

The hearing is scheduled for August 20 in Manhattan.

Topics New York Excess Surplus