NY | The Excess Line Association of New (ELANY) today issued Bulletin No. 2019-09. This bulletin reminds surplus lines filers about the legal definitions of terms such as binder, agent, and confirmation. It goes on to explain who may and may not exercise binding authority.
For More Information About Binders and Binding Authority
Click here to read Bulletin No. 2019-09 in full. The ELANY website offers further information on the proper use of binders and binding authority in New York. And for guidance on surplus lines filing procedures in New York and nationwide, contact ILSA’s Surplus Lines Tax Filings Team.