P&CNew Yorkeasy
Under NY Insurance Law § 1102, what authorization must an insurer hold before doing an insurance business in New York?
A license (Certificate of Authority) issued by the Superintendent of Financial Services
BA surplus lines stamp from any other state
CA NAIC accreditation letter
DA federal insurance charter from the Treasury Department
Why this is the answer
NY Insurance Law § 1102(a) is the affirmative licensing requirement that pairs with § 1101(b)'s definition of 'doing an insurance business.' Authorized insurers hold a Certificate of Authority from the DFS Superintendent; unauthorized (non-admitted) insurers may write only eligible surplus lines risks placed through licensed Excess Line Brokers under § 2118. There is no federal insurance charter; insurance regulation in the U.S. is state-based under the McCarran-Ferguson Act.
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