N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 18-1.4

Current through Register Vol. 46, No. 50, December 11, 2024

Section 18-1.4 - Exemptions from other provisions of the insurance law

The exchange, its members and the insurance or reinsurance written through the exchange shall be subject to all the provisions of the Insurance Law and regulations promulgated thereunder, except as provided in section 18-1.3 of this Subpart and the specified sections of the following articles of the Insurance Law:

(a) article III: subdivision 2 of section 28 except as provided in section 18- 1.2 of this Subpart; section 32-a, except as provided in subdivision 5 of section 425-a of the Insurance Law, and except for business written pursuant to section 425-1 (1)(a)(iii); sections 32-b; 33; 33-a; and 36-a;

(b) article III-A: section 37 through 37-q;

(c) article IV-A: sections 69-a through 69-k, provided the exchange adopts rules requiring members to register, report or otherwise disclose information substantially equivalent to that required under article IV-A and Regulation 52 (11 NYCRR 80);

(d) article V:

(1) section 76, only to the extent that the approvals required of the superintendent shall become the responsibility of the exchange;

(2) subdivisions 4, 5 and 6 of section 77, provided the exchange adopts substantially equivalent rules to regulate the reinsurance transactions therein described and such other rules as may be required:

(i) to achieve the legislative intent of creating additional capacity for buyers of insurance and reinsurance and maintaining within the United States insurance business now exported to other countries;

(ii) to prevent the use of the reinsurance mechanism as a means for insurers not authorized in this State to effectively transact an insurance business in this State; and

(iii) to preclude the making of, or entering into, any reinsurance agreement or other arrangement by an underwriting member which may diminish, weaken or impair the undertaking of such underwriting member, as a primary insurer to indemnify its policyholders or as a reinsurer to fulfill its obligations to ceding insurers;

(3) section 77-a; section 78, provided the exchange adopts rules to accomplish the intent and purposes of this section; section 79 except that the provisions of section 18-1.3(c) of this Subpart shall apply; sections 96; 98; 99; 100; 101; 102; 103; 104;

(e) article VI: sections 115-a; 115-b;

(f) article VI-A: sections 133 through 139-c;

(g) article VII: sections 142; 143; 144; 145; 146; 147; 148; 149; 150; 151; 152; 153; 154; 155; 156; 157; 158; 159; 160; 161; 162; 162-a; 163; 164; 164-a; 165; section 167, provided that the exchange adopts rules and standards for policy forms; sections 167-a; 167-aa; 167-b; 167-c; 167-d; 167-e; section 168, provided that the exchange adopts rules and standards for policy forms; sections 168-a; 168-b; 168-e; 168-f; 168-g; 168-h; 169; 170; 171; 172; 173; 174-a; and 174-b;

(h) articles VII-A and VIII: sections 175 through 189, provided that the exchange adopts rules to accomplish the intent and purposes of these articles;

(i) article IX-A: sections 191; 191-a; 192; subdivisions 1 and 2 of section 193; section 194; section 195, provided the exchange adopts rules to accomplish the intent and purposes of this section; sections 198-a; 199; 200; 201; 203; 204; 207; section 212, provided the exchange adopts rules to accomplish the intent and purposes of this section; sections 213; 213-a; 214; section 216, provided the exchange adopts rules to accomplish the intent and purposes of this section; subdivisions 2, 3, 7, 8, 9, 10 of section 217; sections 221; 221- a; 222; 223; 224;

(j) article IX-B: sections 232 through 248;

(k) article IX-C: sections 250 through 260;

(l) article X: sections 311; 312; section 313, provided the exchange adopts rules to accomplish the intent and purposes of this section; section 314, except for the provision in the last sentence thereof requiring that dividends to policyholders shall be declared and paid only out of earned surplus; subdivision 2 of section 327; section 329; section 330; subdivisions 2, 4 and 5 of section 331; subdivision 4 of section 331-a, except that the last sentence thereof shall remain applicable; section 333; section 334;

(m) article XI-A: section 341; section 342, except for the provision of the last sentence thereof requiring that dividends to policyholders shall be declared and paid only out of earned surplus; section 343, provided the exchange adopts rules to accomplish the intent and purposes of this section; section 354;

(n) article XII: sections 410 through 425;

(o) article XV: sections 480 through 504, provided the exchange adopts rules to accomplish the intent and purposes of these sections;

(p) article XV-A: sections 505 through 509;

(q) article XVII-A: sections 600 through 626;

(r) article XVII-B: sections 651 through 658;

(s) article XVII-C: sections 659 through 662;

(t) article XVIII: sections 670 through 678; and

(u) article XIX: sections 681 through 695.

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 18-1.4