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Kidnap and Ransom Insurance in New York

The NAIC chart cites N.Y. Ins. Law § 2118(d) for single-state surplus-lines tax treatment in New York. Ask your broker to show that charge separately from insurer premium and match insured people, territory, and covered events to your travel plan. 1

What Is Kidnap And Ransom?

Kidnap and ransom insurance provides financial protection for specified kidnapping and extortion events and gives the business access to a crisis-response firm. Check who is insured, which events are named, and how territory and sanctions terms apply to your actual travel. Read the national Kidnap and ransom guide.

What to Watch for in New York

  • State Charges on a Nonadmitted Placement

    For a single-state surplus-lines placement in New York, the NAIC chart cites N.Y. Ins. Law § 2118(d) as the tax authority. Ask the broker to show the state charge, taxable premium base, and allocation separately on the K&R binder. 1

  • Guaranty-Fund Eligibility

    Guaranty-fund eligibility turns on the insurer and the state statute. Ask your broker to show the policy disclosure and confirm whether a surplus-lines placement is outside the New York guaranty fund. The chart cites N.Y. Ins. Law § 2118(d) for surplus-lines tax, but paying that charge does not establish guaranty eligibility; ask for the insurer's insolvency disclosure too. 2,1

  • Sanctions and Cyber Extortion

    Ask whether cyber extortion is included or excluded, and who handles sanctions checks before a payment. OFAC specifically warns that facilitating ransomware payments can expose companies to sanctions enforcement. For multi-state risks, the chart cites N.Y. Ins. Law § 2118(d) for the state tax rule; ask how K&R and any cyber extension are allocated before comparing quotes. 3,1

Who Regulates Insurance in New York

New York State Department of Financial Services

New York DFS supervises insurance companies and producers, administers insurance law and accepts consumer complaints about property and casualty policies, including commercial insurance. 4,5,6,7

Surplus-lines tax and stamping office

Reported tax rate: 3.6% of gross premium, less returned premium; ELANY stamping fee is 0.15% through 2026 and 0.17% for policies incepting on/after Jan. 1, 2027 When New York is the insured’s home state, excess-line tax is 3.6% of gross premium less returned premium. ELANY’s September 20, 2026 bulletin sets a 0.15% stamping fee through December 31, 2026 and 0.17% for policies incepting on or after January 1, 2027; statutory search requirements and guaranty-fund protection depend on the applicable New York excess-line rules. 8,9,10,11

Excess Line Association of New York

Providers With Documented State Licenses

These providers publish a national listing for Kidnap and ransom; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in New York. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • CorgiCorgi Insurance Services, Inc.Insurance producer · checked 2026-09-28Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. 14

Questions to Ask Before You Buy in New York

  1. Will you identify whether this New York K&R policy is admitted or surplus lines and show the state tax and fees separately?
  2. If the insurer becomes insolvent, would this exact policy qualify for protection under New York's guaranty statute?
  3. Which employees, family members, travel destinations, and extortion events are insured under this quote?
  4. If cyber extortion is included, who checks sanctions and approves a payment before anyone acts?

Kidnap And Ransom in New York: FAQ

What state tax applies to surplus-lines K&R insurance in New York? 1

3.6% of premium. The NAIC chart's New York row cites N.Y. Ins. Law § 2118(d); ask the broker to show the amount separately on the quote. 1

What happens if a surplus-lines K&R insurer fails in New York? 2,1

The NAIC says state guaranty associations handle only eligible covered claims, subject to statutory limits. Ask the broker which association, if any, could respond to this insurer and policy; the separate tax rule cites N.Y. Ins. Law § 2118(d), but paying tax does not establish fund protection. 2,1

Kidnap And Ransom in Other States

Other Coverage in New York

Sources

  1. State Insurance Charts: Surplus Lines Insurance Premium Taxes. National Association of Insurance Commissioners; State row for single-state risk; cited statutes and rate/allocation (chart reviewed October 2025). Accessed 2026-09-28.
  2. Guaranty Associations & Funds. National Association of Insurance Commissioners, Center for Insurance Policy and Research; Overview: state guaranty mechanisms and covered-claim limits (updated May 9, 2024). Accessed 2026-09-28.
  3. Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments. U.S. Department of the Treasury, Office of Foreign Assets Control; Sanctions risks associated with making/facilitating ransomware payments; compliance and reporting steps (updated September 21, 2021). Accessed 2026-09-28.
  4. New York State Department of Financial Services. New York State Department of Financial Services; Official regulator homepage. Accessed 2026-09-28.
  5. Who We Supervise. New York State Department of Financial Services; DFS describes insurance oversight and provides links to company and producer searches. Accessed 2026-09-28.
  6. Consumer Complaints. New York State Department of Financial Services; Official portal files insurance complaints for health, life and property/casualty insurance. Accessed 2026-09-28.
  7. New York Insurance Law §2118(d)(1). New York State Senate; Current statutory text: 3.6% of gross premiums less returned premium when New York is the insured’s home state. Accessed 2026-09-28.
  8. ELANY Bulletin 2026-20: Notice of Change in Stamping Fee. Excess Line Association of New York; September 20, 2026 bulletin: 0.17% applies to policies incepting from Jan. 1, 2027; endorsements on policies incepting Jan. 1, 2023–Dec. 31, 2026 retain 0.15%; excess-line tax remains 3.6%. Accessed 2026-09-28.
  9. New York Insurance Law §2118. New York State Senate; Excess-line broker duties and filing requirements; §2118(a) due care; exceptions should be applied only where statutory conditions are met. Accessed 2026-09-28.
  10. New York Insurance Law §2118. New York State Senate; Excess-line statutory duties and policies; source is used for placement context. No state-specific guaranty cap/note included. Accessed 2026-09-28.
  11. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  12. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  13. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  14. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  15. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
  16. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

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