New York Updates List of Eligible Excess and Surplus Insurers With Hudson Excess, North Light Specialty

The Excess Line Association of New York (“ELANY”) advised in Bulletin No. 2013-17 issued today, April 30, 2013, that the following companies have been added to the list of New York Eligible Excess and Surplus Insurers.

The Excess Line Association of New York, under the supervision of the Superintendent, has verified that the unauthorized insurers selected by the licensees meet the minimum standards of eligibility imposed by the Nonadmitted and Reinsurance Reform Act, Section 2118 of the New York Insurance Law and Regulation 41.  This activity is in addition to, and not in lieu of, the responsibility of the broker under Section 2118 of the New York Insurance Law and Section 27.13 of  Regulation 41 “to use due care in selecting the unauthorized insurer from whom policies are procured under this license.”

All current ELANY bulletins and other current ELANY publications can be found on the organization’s Website at http://www.elany.org