Excess Insurers One Step Closer To Boost In NY State

Law360, New York (June 12, 2012, 5:48 PM EDT) -- Excess insurers based in New York would soon be able to write policies for in-state customers under a bill that passed the state Senate Tuesday, as lawmakers seek to bring the Empire State up to speed with six other states that already have passed similar bills.

Under current law, excess-insurance providers in New York are not permitted to write coverage on any New York portion of a surplus line policy.

The bipartisan bill, S. 6808, sponsored by Oneonta Republican Sen. James L. Seward and Rochester Democratic...
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