P&CNew Yorkmedium
Under NY Ins. Law §§ 6303-6304, which characteristic of a commercial insured is MOST relevant to whether the risk qualifies for the Free Trade Zone?
Whether the insured employs a full-time professional risk manager or meets premium-size thresholds
BWhether the insured is incorporated in New York
CWhether the insured's prior insurer is admitted in NY
DWhether ELANY has stamped a prior surplus-line policy
Why this is the answer
NY's Free Trade Zone divides eligible commercial buyers into classes under §§ 6303-6304. Class 1 — large insureds meeting premium-volume thresholds. Class 2 — unusual or specialty risks the standard market cannot accommodate. Class 3 — named insureds on the FTZ named-insured list (typically Fortune 1000s with dedicated risk-management staff). The unifying theme is that the insured has the sophistication and bargaining leverage to negotiate coverage on equal footing with the carrier, so DFS need not pre-approve forms or rates. Incorporation, prior insurer status, and ELANY history are irrelevant.
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