New York Insurance Law Articles 54 (New York Property Insurance Underwriting Association, the FAIR Plan) and 55 (Medical Malpractice Insurance Association), each complete

What this document is

New York Insurance Law Articles 54 (New York Property Insurance Underwriting Association, the FAIR Plan) and 55 (Medical Malpractice Insurance Association), each complete (art. 54 ss. 5401-5414, art. 55 ss. 5501-5517-a) is a state statute published by New York State Legislative Bill Drafting Commission (public.leginfo.state.ny.us). It is one of the New York documents that insurance license exam questions are written from, including new york property & casualty, new york personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• N.Y. Ins. Law Sec. 5403(a), (b) (New York Property Insurance Underwriting Association; procedures)

  “Any person having an insurable interest in insurable property, who has made a diligent effort in the normal insurance market to procure fire insurance, extended coverage and coverage for additional perils and broad form coverage pursuant to subsection (g) of section five thousand four hundred two...”

• N.Y. Ins. Law Sec. 5414(c) (Coastal market assistance program; administration and eligibility)

  “The association shall administer the coastal market assistance program. The association may, subject to approval of the superintendent, adopt reasonable eligibility standards for participation in the coastal market assistance program. At a minimum, properties eligible for the program shall be...”

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