Legal Question in Insurance Law in New York
insurance company in new york state
in order to provide comp. and liability
insurance to new york state not for
profits, does the insurance company
have to be domiciled in new york state?
Asked on 9/12/07, 10:22 am
1 Answer from Attorneys
Kevin Connolly
Kevin J. Connolly
Re: insurance company in new york state
No, but it must be "admitted" in New York, i.e., licensed by the New York Insurance Department. If not admitted, you will be deemed uninsured, with all the penalties (triple damages and no immunity from lawsuits for pain and sufferng) that entails.
Answered on 9/12/07, 10:29 am
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