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  • Nysid Form 41c W 2020

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OGC Opinion No. 03-01-39: Submission of Part C...
The duties of excess line brokers regarding the placement of business with an ... a form...
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In order for a nonadmitted foreign insurer to qualify as an eligible excess line insurer in New York, the insurer must maintain at a minimum, surplus to policyholders of $48,000,000 for year-end 2023 (this minimum increased from $47,000,000 for financial statements beginning with the first quarter of 2022), and be ...

Excess and Surplus Lines—also known as “E&S”—insurance is designed for businesses with uniquely high risks that the traditional insurance market will not cover. The types of businesses that may need excess and surplus lines are in industries like construction, building, roofing, and commercial transportation.

When administered properly the Notice of Excess Line Placement provides protection to the producing broker and/or excess line broker because it advises the insured that licensed companies declined the risk and that no guaranty fund protects the insured in the event of insolvency of the excess line insurer.

For example, an ax-throwing business may have to get property and liability coverage from a surplus lines carrier because the industry is still fairly new and involves higher risk of damage or injury. The policies offered through the E&S market usually have more expensive premiums and higher deductibles.

An excess line broker must pay a tax of 3.6% on the gross premium minus premiums returned to insureds when New York is the Home State of the insured (§2118(d)(1)). It is the legal obligation of the excess line broker to file tax returns and pay taxes.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232