New York excess line brokers must soon renew their business entity licenses if they want to avoid possible licensing delays later this year, the Excess Line Association of New York (ELANY) said.
All business entity licenses for excess line brokers in the state expire on Oct. 31, and ELANY said the state will not be mailing reminders to brokers this year.
Brokers can download a business entity application from the state insurance department.
State laws requires brokers who operate their businesses as a corporation, partnership or LLC to obtain a business entity license.
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Source: ELANY
Topics New York Agencies Excess Surplus
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