Diligent-search compliance built into the placement workflow
New York Insurance Law § 2118 requires documented declinations from admitted carriers before a risk can be placed in the excess line market. StrataCover builds that diligent-search requirement directly into the submission workflow — logged, tracked, and audit-ready.
Before placing coverage with a non-admitted carrier, a broker must document that the risk was declined by admitted markets. The declination record must be maintained and is subject to regulatory review. Missed or incomplete declination logs put the placement — and the broker's license — at risk.
The StrataCover platform logs declinations against each submission as part of the clearance workflow: which admitted markets were approached, when, and the outcome. The compliance dashboard tracks declination counts per risk and flags missing affidavits before filing deadlines.
Excess line placements in New York require ELANY filing within 45 days of policy inception. The platform tracks Part A and Part C verification, counts down filing deadlines per policy, and records stamping — so compliance is a byproduct of the workflow, not a separate manual process.
Led by Michael H. Jenkins, Founder & Managing Director — licensed NY Property & Casualty and Excess Line broker.
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