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| Reciprocal Insurance License - Foreign |
 Permit Information
| Permit ID: |
INS-0044 |
Agency Code: |
1300 |
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| Agency Name: |
Financial Services, Department of (Insurance Industry) |
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| Permit Name: |
Reciprocal Insurance License - Foreign |
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| Permit Description: |
License to organize a foreign reciprocal insurer comprised of twenty-five or more persons, firms, or corporations to do any one or more of the basic kinds of insurance. A reciprocal insurer is comprised of individuals, partnerships or corporations that engage in a similar line of business and undertake to indemnify each other against property/casualty losses through the mutual exchange of insurance contracts. The members of a reciprocal insurer are known as “subscribers,” and each subscriber is both an insured and an insurer. |
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| Application Form: |
Reciprocal Insurance License |
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| Form Number/Date: |
FRCP424 (6/98), FRCP423 (12/98), AF1207 (3/98), AF404 (1/98), AF533 (2/98), AF399 (1/98), 601, 602, 603, NAICB10 |
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| Downloadable Application Form: |
Not available |
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| Apply Online: |
Not Available |
Authority
| Statutory Authority: |
NYS Insurance Law Article 61, Section 6101 through 6116 (eff. 9/84) |
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| Regulatory Authority: |
None |
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Federal Authority:
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None |
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Category of Business
Regulated by Permit: |
Finance & Insurance & Real Estate |
Fees and Requirements
| Fees: |
Type Amount Returnable
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1. Filing $30.00 Yes
Comments: $5 Certificate of deposit. Average daily salary and overhead times number of days
2. Deposit $5.00 Yes
Comments: Certificate of Deposit
3. Examination $0.00 No
Comments: Average daily salary plus overhead times number of days.
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 Processing
Licensing/Application Inquiries
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