N.Y. Insurance Law § 4119: Foreign and alien companies; license qualification

§ 4119. Foreign and alien companies; license qualification. No foreign

or alien property/casualty insurance company shall be licensed to do

business in this state unless it shall have continuously transacted an

insurance business in the state or country of its incorporation for at

least three years immediately prior to the issuance of such license. The

superintendent may waive or reduce the three year requirement, with

respect to a license applicant, upon determination that the three year

period is not necessary to safeguard the interests of the public or

policyholders.