Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Dan Maher, Executive Director of the Excess Line Association of New York (ELANY), shares his dos and don’ts for surplus lines compliance – especially in New York. His secret for success: Identify the right home state for each insurance transaction so you can follow the correct filing and tax procedures.
And if you only learn one thing from this podcast, let it be this: Before you expand your business into a new state, do your homework. State rules vary, so seek expert advice.