New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 11. Insurance |
Chapter XII. Group Property/Casualty Insurance |
Part 301. Purchasing Groups |
Sec. 301.5. Location of a purchasing group
Latest version.
- (a) For the purposes of section 5909(a) of the Insurance Law, to determine when liability insurance from an unauthorized insurer for a purchasing group or its member must be obtained through an excess line broker, a purchasing group is located in this State:(1) with respect to the purchasing group, when there is any solicitation, negotiation, issuance or delivery in this State of such group policy by, to, or on behalf of such group; or(2) with respect to a member, when there is any solicitation, negotiation, issuance or delivery in this State of such member's policy.(b) Notwithstanding the above, a purchasing group is not located in this State if, under the provisions of section 2117 of the Insurance Law, the use of an excess line broker is not required.