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  • Nysid Form 41c W 2020

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How to fill out the Nysid Form 41c W online

Completing the Nysid Form 41c W online is an essential process for producing brokers in New York. This guide provides a clear, step-by-step approach to help users efficiently navigate and fill out the form accurately.

Follow the steps to complete the Nysid Form 41c W online.

  1. Press the ‘Get Form’ button to access the Nysid Form 41c W and open it in your online editor.
  2. In the first section titled 'Producing Broker Information', fill in your affidavit number and license number, followed by your name, address, city, state, and zip code. Ensure all details are accurate to avoid processing delays.
  3. Next, move to the 'Risk Information' section. Here, enter the name of the insured. Make sure this name matches exactly with the information on the declarations page or other related documents.
  4. Proceed to the 'Disclosure Information' section. Indicate whether you personally provided a written Notice of Excess Line Placement using the designated Yes/No options.
  5. In the 'Declination Information' section, answer the three questions. Depending on your answers, you may skip certain questions. For question (a), indicate if the Superintendent has determined that declinations are not required. If 'Yes', proceed to the affirmation section.
  6. For question (b), assess if the insured qualifies as an 'Exempt Commercial Purchaser' per New York Insurance Law. If 'Yes', again skip to the affirmation section.
  7. Answer question (c) where you must confirm if the risk was submitted to authorized companies and declined. If 'Yes', complete the following schedule with the required details for each declining company.
  8. Fill in the name of the company, NAIC code, date of declination, reasons for the decline, and the affiliation of the representative. Provide any relevant details that might support the underwriting considerations.
  9. Finally, in the 'Affirmation' section, input your name and signature to affirm all information provided is true and accurate. Date the form accordingly.
  10. Once all sections are completed, save your changes. You can choose to download, print, or share the completed form as required.

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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
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
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 WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
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