N.Y. Comp. Codes R. & Regs. tit. 11 § 112.1

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

Section 112.1 - Applicability

(a) This Part shall apply to all loss portfolio transfers with an effective date of December 31, 2000 or prior, entered into by every insurer subject to article 41, 61, 62 or 66 of the Insurance Law, that is authorized or accredited to insure or reinsure any of the basic kinds of insurance specified in section 4101 of the Insurance Law.

(b) All loss portfolio transfers with an effective date on or after January 1, 2001 shall, in accordance with section 83.3(c) of this Title, be governed by the accounting practices and procedures set forth in statement of statutory accounting principles (SSAP) 62, and shall also be subject to the provisions of sections 112.5(j) and 112.6(k) of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 112.1