US Lawyer Database

For Lawyer-Seekers

YOU DESERVE THE BEST LAWYER

§  2317.  Joint  underwriting  or  joint reinsurance. (a) Every group,
association or other organization of insurers  which  engages  in  joint
underwriting  or  joint  reinsurance shall be subject to regulation with
respect thereto as herein provided, subject, however,  with  respect  to
joint  underwriting,  to all other applicable provisions of this article
and, with respect to joint reinsurance, to subsection (e) of section two
thousand three hundred twenty-one and section two thousand three hundred
twenty-two of this article.

(b) If, after hearing, the superintendent finds that any activity or practice of any such group, association or other organization is unfair or unreasonable or otherwise inconsistent with the provisions of this article, he may issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this article, and requiring the discontinuance of such activity or practice.

(c) Every such group, association, or other organization of insurers shall be subject to examination by the superintendent as often as he may deem it expedient.