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(McKinney 1985).37 During 1984, petitioner provided its shippers
36(...continued)
(b) Negotiations preliminary to execution.
(c) Execution of a contract of insurance.
(d) Transaction of matters subsequent to execution
of the contract and arising out of it.
37N.Y. Ins. Law sec. 1102 (McKinney 1985) provides:
�1102. Insurer's license required; issuance
(a) No person, firm, association, corporation or
joint-stock company shall do an insurance business in
this state unless authorized by a license in force
pursuant to the provisions of this chapter, or exempted
by the provisions of this chapter from such
requirement. Any person, firm, association,
corporation or joint-stock company which transacts any
insurance business in this state while not authorized
to do so by a license issued and in force pursuant to
this chapter, or exempted by this chapter from the
requirement of having such license, shall, in addition
to any other penalty provided by law, forfeit to the
people of this state the sum of one thousand dollars
for the first violation and two thousand five hundred
dollars for each subsequent violation.
N.Y. Ins. Law sec. 1101(b)(1) (McKinney 1985) provides:
� 1101. Definitions; doing an insurance business
(b)(1) Except as provided in paragraph two hereof,
any of the following acts in this state, effected by
mail from outside this state or otherwise, by any
person, firm, association, corporation or joint-stock
company shall constitute doing an insurance business in
this state and shall constitute doing business in the
state within the meaning of section three hundred two
of the civil practice law and rules:
* * * * * * *
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