New York Weighs Easing Excess Lines Rules

New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing next month to explore the possibility of increasing insurance capacity in New York by easing access to non-standard market insurers.

The New York State Insurance Department hopes to get input from the public as it determines whether to revise eligible coverages on the state’s so-called export list – essentially a catalog of coverage that excess lines brokers can place without first having standard market carriers decline to insure a risk.

The Excess Line Association of New York has proposed the addition of several new classes to the export list.

The hearing is scheduled for August 20 in Manhattan.