My friend, ELANY Executive Director Dan Maher, explained to me that the proposed statute would not require a broker to place business only with insurers on the list, and ELANY would be required to conduct an annual analysis of each insurer on the list.
I'm told ELANY expects it to be taken up again in 2015.
In addition, the plaintiff argues that it has the authority to commence a civil action pursuant to Insurance Law [section] 2130 (a) (11) which states, in pertinent part, that ELANY shall be authorized and have the duty to provide such other services to its members as are incidental or related to the purposes of the association.
Maher, Executive Director and Chief Operating Officer of ELANY, who avers that the settlement between the Waldorf defendants and the Insurance Department did not release the Waldorf defendants from their duties to the plaintiff and that the plaintiff has the right to pursue its own remedies.
ELANY and the industry were successful in prevailing on the legislature and Governor's office to prevent adoption of the bureaucratic NIMA approach to the implementation of the NRRA provisions.
The duty remains on the excess line broker to ensure due care in placing with non-admitted companies, especially with those companies that do not provide the financial information to ELANY.
Questions regarding the expanded "export list" should be directed to ELANY
at (646) 292-5500 or visit www.
As a centralized source of information, ELANY
has greatly contributed to the Insurance Department's knowledge of a vital segment of New York's insurance market.
PIWA), Insurance Brokers Association of the State of New York (IBANY), the Independent Insurance Agents and Brokers of New York (IIABANY), Council of Insurance Brokers of Greater New York (CIBGNY), and ELANY
, as well as individual brokers from various firms.
executive director of Excess Line Association of New York, and Eugene Nunziata, education/communications director of ELANY
, from 8-10:40a.
But at the ELANY
luncheon, Dinallo described himself as "practical, not ideological," and he added, "I'm a fairly a-political person.