The Excess Line Association of New York was created by statute in 1988 and began business in 1989. It is a nonprofit industry advisory association. ELANY is charged with the duty to facilitate and encourage compliance with the excess line law.
ELANY:
- Acts as a facilitator between the brokers and the regulators.
- Conducts financial review and oversight of non-admitted markets.
- Provides continuing education:
- Certified provider for CE credits.
- Publications.
- Lobbies Regulators & Legislators.
- Maintains information database:
- For reporting to regulators.
- To assist members with tax reports.
- Reviews documents for compliance.
- Protects members, consumers and the marketplace against fraud.
- Protects state revenues.
- Facilitates and encourages compliance.
- Acts as an industry representative organization.
