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N.Y. Insurance Law § 101 Short title
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§ 101. Short title. This chapter shall be known and may be cited as the "insurance law".
N.Y. Insurance Law § 102 Declaration
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§ 102. Declaration. The legislature hereby declares that the purpose of this chapter is to recodify, without substantive change, the insurance law in effect immediately prior to the effective date of this chapter.
N.Y. Insurance Law § 103 Explanation of order of provisions
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§ 103. Explanation of order of provisions. In this recodification of the insurance law, the provisions have been divided in descending order of application, with illustrations, as follows: Article 1 Section 101 Subsection (a) Paragraph (1) Subparagraph (A) Item (i) Clause (I) Su…
N.Y. Insurance Law § 104 Continuation of existing offices, licenses, approvals and proceedings
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§ 104. Continuation of existing offices, licenses, approvals and proceedings. (a) All persons who, at the effective date of this chapter, held any office in the department shall continue to hold such office under and subject to this chapter. (b) Every license of an insurer, insu…
N.Y. Insurance Law § 106 Construction of references
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§ 106. Construction of references. (a) In this chapter, unless otherwise stated or required by the context: (1) All references to a part, title, article or section number or letter refer to the part, title, article or section so numbered or lettered in this chapter, and all refe…
N.Y. Insurance Law § 107 Definitions of terms of general use in this chapter
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§ 107. Definitions of terms of general use in this chapter. (a) In\nthis chapter, unless the context otherwise requires:\n (1) "Accident and health insurance company", means any corporation\nhaving power to do the kinds of insurance business specified in item (i)\nof paragraph t…
N.Y. Insurance Law § 108 Applicability of business corporation law to insurers
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§ 108. Applicability of business corporation law to insurers. (a) The business corporation law applies to every corporation heretofore or hereafter formed under: (1) this chapter, except corporations subject to section one thousand one hundred ten or article forty-three, forty-f…
N.Y. Insurance Law § 109 Penalties; civil actions
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§ 109. Penalties; civil actions. (a) Every violation of any provision of this chapter shall, unless the same constitutes a felony, be a misdemeanor. (b) Every penalty imposed by this section shall be in addition to any penalty or forfeiture otherwise provided by law. (c) (1) If …
N.Y. Insurance Law § 110 Cooperation with other regulatory agencies
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§ 110. Cooperation with other regulatory agencies. (a) In order to assist in the performance of the superintendent's duties under this chapter, the superintendent: (1) may share documents, materials or other information, including confidential, privileged, and trade secret docum…
N.Y. Insurance Law § 1101 Definitions; doing an insurance business
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§ 1101. Definitions; doing an insurance business. (a) In this article: (1) "Insurance contract" means any agreement or other transaction whereby one party, the "insurer", is obligated to confer benefit of pecuniary value upon another party, the "insured" or "beneficiary", depend…
N.Y. Insurance Law § 1102 Insurer's license required; issuance
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§ 1102. Insurer's license required; issuance. (a) No person, firm, association, corporation or joint-stock company shall do an insurance business in this state unless authorized by a license in force pursuant to the provisions of this chapter, or exempted by the provisions of th…
N.Y. Insurance Law § 1103 Duration of licenses
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§ 1103. Duration of licenses. (a) Every license issued to a domestic insurer shall be for an indefinite term and shall expire with the expiration or termination of its corporate existence. (b) Every license, including every renewal license, issued to a foreign or alien insurer s…
N.Y. Insurance Law § 1104 Revocation or suspension of license; restriction of license authority or limitation on premiums written
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§ 1104. Revocation or suspension of license; restriction of license authority or limitation on premiums written. (a) The superintendent may revoke any license issued to any foreign or alien insurer to do an insurance business in this state if, after notice to and hearing, he fin…
N.Y. Insurance Law § 1105 Voluntarily ceasing to maintain license
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§ 1105. Voluntarily ceasing to maintain license. When an authorized insurer proposes to cease to maintain its existing licensing status in this state, the insurer shall at least forty-five days prior to such proposed action submit to the superintendent a plan to protect the inte…
N.Y. Insurance Law § 1106 Additional requirements for foreign or alien insurer's license
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§ 1106. Additional requirements for foreign or alien insurer's license. (a) Before issuing a license to do business, except by way of a renewal license, to any foreign or alien insurer the superintendent in addition to the requirement set forth in subsection (b) hereof: (1) shal…
N.Y. Insurance Law § 1107 Licenses for unincorporated insurers
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§ 1107. Licenses for unincorporated insurers. (a) No individual shall be or remain licensed to write fidelity and surety insurance who, in any court of this state having criminal jurisdiction or in any criminal action or proceeding, deposits money or property as bail for another…
N.Y. Insurance Law § 1108 Insurers exempt from licensing and other requirements
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§ 1108. Insurers exempt from licensing and other requirements. The following insurers, their officers, agents, representatives and employees shall be exempt from licensing and other requirements imposed by the provisions of this chapter (except article seventy-four hereof) to th…
N.Y. Insurance Law § 1109 Limited exemption for health maintenance organizations
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§ 1109. Limited exemption for health maintenance organizations. (a) An organization complying with the provisions of article forty-four of the public health law may operate without being licensed under this chapter and without being subject to any provisions of this chapter, exc…
N.Y. Insurance Law § 111 Investigation by the superintendent with respect to prescription drugs
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§ 111. Investigation by the superintendent with respect to prescription drugs. (a) Whenever it shall appear to the superintendent, either upon complaint or otherwise, that in the advertisement, purchase or sale within this state of any prescription drug, which is contemplated to…
N.Y. Insurance Law § 111-A Notification of prescription drug price increases by manufacturers
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§ 111-a. Notification of prescription drug price increases by manufacturers. (a) This section shall apply to a manufacturer of a prescription drug that is purchased or reimbursed in this state by any of the following: (1) An insurance company authorized in this state to write ac…
N.Y. Insurance Law § 1110 Charitable annuity societies exempt; special permits
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§ 1110. Charitable annuity societies exempt; special permits. (a) The superintendent may, in his or her discretion, issue a special permit to make annuity agreements with donors to any duly organized domestic or foreign non-stock corporation or association conducted without prof…
N.Y. Insurance Law § 1111 Compulsory insurance; bonds of surety companies; certificates of qualification
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§ 1111. Compulsory insurance; bonds of surety companies; certificates of qualification. (a) Whenever by any law of this state any policy or contract of insurance is required, or is acceptable in lieu of any other requirement imposed by such law, the superintendent may, upon writ…
N.Y. Insurance Law § 1112 Reciprocal provisions as to taxes, license fees, deposits, and other requirements
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§ 1112. Reciprocal provisions as to taxes, license fees, deposits, and other requirements. (a) (1) If, by the laws, or the action of any public official, of any other state, any insurer organized or domiciled in this state, or its duly authorized agents, shall be, required to de…
N.Y. Insurance Law § 1112-A Reports
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§ 1112-a. Reports. On or before March first of each year the superintendent shall report the amounts imposed and required to be paid pursuant to section twenty-eight hundred seven-t of the public health law that are allowed on returns filed during the preceding calendar year as …
N.Y. Insurance Law § 1113 Kinds of insurance authorized
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§ 1113. Kinds of insurance authorized. (a) The kinds of insurance which may be authorized in this state, subject to other provisions of this chapter, and their scope, are set forth in the following paragraphs. The power to do any kind of insurance against loss of or damage to pr…
N.Y. Insurance Law § 1114 Reinsurance business
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§ 1114. Reinsurance business. (a) Any domestic stock or mutual insurance corporation or reciprocal insurer may reinsure only the kinds of insurance business which it is licensed to do in this state or which it is otherwise authorized to reinsure by the terms of its license. Any …
N.Y. Insurance Law § 1115 Limitation of risk, in general
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§ 1115. Limitation of risk, in general. (a) Except as otherwise provided in this chapter, no insurer doing business in this state shall expose itself to any loss on any one risk in an amount exceeding ten percent of its surplus to policyholders. In determining the amount of risk…
N.Y. Insurance Law § 1116 Prepaid legal services plans and legal services insurance
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§ 1116. Prepaid legal services plans and legal services insurance. (a)\n(1) An authorized insurer subject to the provisions of this chapter\n(except an insurer organized to write the kinds of insurance specified\nin paragraph eighteen, twenty-three or twenty-five of subsection (…
N.Y. Insurance Law § 1117 Health insurance plans for long term care
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§ 1117. Health insurance plans for long term care. (a) An authorized\ninsurer subject to the provisions of this chapter and organized to write\nthe kind of insurance specified in paragraph three of subsection (a) of\nsection one thousand one hundred thirteen of this article, a c…
N.Y. Insurance Law § 1118 Regional pilot projects for the uninsured
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§ 1118. Regional pilot projects for the uninsured. (a) An authorized insurer subject to the provisions of this chapter and organized to write the kind of insurance specified in paragraph three of subsection (a) of section one thousand one hundred thirteen of this article, and a …
N.Y. Insurance Law § 1119 Limited exemption for continuing care retirement communities
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§ 1119. Limited exemption for continuing care retirement communities. (a) An organization complying with the provisions of article forty-six of the public health law may operate without being licensed under this chapter and without being subject to any provisions of this chapter…
N.Y. Insurance Law § 1120 Child health insurance plan
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§ 1120. Child health insurance plan. (a) An authorized insurer subject to the provisions of this chapter and organized to write the kind of health insurance specified in paragraph three of subsection (a) of section one thousand one hundred thirteen of this article, and a corpora…
N.Y. Insurance Law § 1121 Voucher insurance program
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§ 1121. Voucher insurance program. (a) The superintendent, in\nconsultation with the commissioner of health, is authorized to conduct a\nprogram on a demonstration basis to the extent of funds available\ntherefor, through contractual arrangements with approved organizations,\nto…
N.Y. Insurance Law § 1122 New York state health insurance continuation assistance demonstration project
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* § 1122. New York state health insurance continuation assistance\ndemonstration project. (a) Definitions. For the purposes of this\nsection, unless the context clearly requires otherwise:\n (1) "Continuation assistance" means payments made by the\nsuperintendent to an eligible …
N.Y. Insurance Law § 1123 Immigration bail business
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§ 1123. Immigration bail business. (a)(1) Any person, firm, corporation, or other entity who shall for another deposit money or property as bail or execute as surety any bond in any immigration action or proceeding who within a period of one month prior thereto shall have made s…
N.Y. Insurance Law § 1124 Institutions of higher education exempt; certificate of authority
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* § 1124. Institutions of higher education exempt; certificate of authority. (a) For the purposes of this section: (1) "Qualified actuary" means an actuary who is a member in good standing of the American Academy of Actuaries or Society of Actuaries, with experience in establish…
N.Y. Insurance Law § 1124*2 Managed care health savings account
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* § 1124. Managed care health savings account. (a) A health maintenance organization certified pursuant to article forty-four of the public health law may offer a group high deductible health plan, as defined in paragraph two of subsection c of section two hundred twenty-three o…
N.Y. Insurance Law § 1201 Incorporation of stock or mutual insurance companies
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§ 1201. Incorporation of stock or mutual insurance companies. (a) A corporation may be organized and licensed to do an insurance business in this state by taking the following successive steps, subject to applicable requirements of this chapter: (1) The proposed incorporators, c…
N.Y. Insurance Law § 1202 Number of directors; independent directors and committees of the board of directors; duty of directors
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§ 1202. Number of directors; independent directors and committees of the board of directors; duty of directors. (a) (1) Subject to item (v) of subparagraph (B) of paragraph five of subsection (a) of section one thousand two hundred one of this article, and subject to any provisi…
N.Y. Insurance Law § 1203 Non-use of corporate charter
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§ 1203. Non-use of corporate charter. (a) Any domestic insurance company which, after one year from the date of its incorporation, has not organized and obtained a certificate of authority or license to do an insurance business, shall, unless granted an extension, forfeit its co…
N.Y. Insurance Law § 1204 Sale of insurance securities
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§ 1204. Sale of insurance securities. (a) Subject to the provisions of subsection (e) hereof, no person, firm, association or corporation shall in this state sell or propose to sell to the public any security issued by any insurer not authorized to do business in this state, unl…
N.Y. Insurance Law § 1205 Existing corporations
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§ 1205. Existing corporations. Any insurance corporation incorporated under the provisions of any law of this state and doing business as an authorized insurer at the effective date of this chapter shall be subject to the provisions of this chapter relating to such a corporation…
N.Y. Insurance Law § 1206 Amendments to charters and increase of capital of insurance corporations
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§ 1206. Amendments to charters and increase of capital of insurance corporations. (a) Any domestic insurance corporation may amend its charter as follows: (1) It may change its name or authorize the use in a foreign country in which it does or proposes to do business of a specif…
N.Y. Insurance Law § 1207 Options for the purchase of shares
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§ 1207. Options for the purchase of shares. (a) Notwithstanding any provision of the business corporation law, but subject to any provision in respect thereto set forth in its certificate of incorporation, or other certificate filed pursuant to law, a domestic stock insurance co…
N.Y. Insurance Law § 1208 Method of amending mutual company charters
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§ 1208. Method of amending mutual company charters. (a) A domestic mutual insurance corporation may change its name, or amend or restate its charter in the form prescribed by article eight of the business corporation law. Except as specified in subsections (b) and (c) hereof, th…
N.Y. Insurance Law § 1209 Management and by-laws of mutual insurance corporations
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§ 1209. Management and by-laws of mutual insurance corporations. (a) The management of the business and affairs of a domestic mutual insurance corporation shall be vested in a board of directors. (b) Such corporation shall have not less than seven directors. The directors, excep…
N.Y. Insurance Law § 1210 By-laws of domestic stock life insurance companies
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§ 1210. By-laws of domestic stock life insurance companies. No by-law or amendment or repeal of a by-law of any domestic stock life insurance company shall be effective until approved by the superintendent. The superintendent may refuse such approval if he finds that such by-law…
N.Y. Insurance Law § 1211 Mutual insurance corporations; membership and dividends
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§ 1211. Mutual insurance corporations; membership and dividends. (a) Every domestic mutual insurance corporation shall be organized, maintained and operated for the benefit of its members as a non-stock corporation. Every policyholder shall be a member of such corporation and sh…
N.Y. Insurance Law § 1212 Service of process upon superintendent as attorney
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§ 1212. Service of process upon superintendent as attorney. (a) No domestic, foreign or alien insurer, including a fraternal benefit society, shall be or continue to be authorized to do an insurance business in this state unless there shall be filed in the office of the superint…
N.Y. Insurance Law § 1213 Service of process on superintendent as attorney for unauthorized insurers
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§ 1213. Service of process on superintendent as attorney for unauthorized insurers. (a) The purpose of this section is to subject certain insurers to the jurisdiction of the courts of this state in suits by or on behalf of insureds or beneficiaries under certain insurance contra…