Sec. 27.10. Policy form compliance

Latest version.

(a) A policy issued by an unauthorized insurer pursuant to this Part is exempt from the provisions of Part 71 (Regulation 107) and Part 73 (Regulation 121) of this Title, except for a group policy issued pursuant to section 3455 of the Insurance Law.
(b) A complete copy of any liability insurance policy shall be maintained by the excess line broker, provided, however, the broker need not maintain a copy of any policy that provides liability coverage:
(1) only on an occurrence basis; and
(2) only with unlimited legal defense costs outside the limits of liability stated in the policy.

                    
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