§ 1101. Definitions; doing an insurance business. (a) In this article:\n(1) "Insurance contract" means any agreement or other transaction\nwhereby one party, the "insurer", is obligated to confer benefit of\npecuniary value upon another party, the "insured" or "beneficiary",\ndependent upon the happening of a fortuitous event in which the insured\nor beneficiary has, or is expected to have at the time of such\nhappening, a material interest which will be adversely affected by the\nhappening of such event.\n (2) "Fortuitous event" means any occurrence or failure to occur which\nis, or is assumed by the parties to be, to a substantial extent beyond\nthe control of either party.\n (3) "Contract of warranty, guaranty or suretyship" means an insurance\ncontract only if made by a warrantor, guarantor or surety who or which,\nas such, is doing an insurance business.\n (b) (1) Except as otherwise provided in this subsection, any of the\nfollowing acts in this state, effected by mail from outside this state\nor otherwise, by any person, firm, association, corporation or\njoint-stock company shall constitute doing an insurance business in this\nstate and shall constitute doing business in the state within the\nmeaning of section three hundred two of the civil practice law and\nrules:\n (A) making, or proposing to make, as insurer, any insurance contract,\nincluding either issuance or delivery of a policy or contract of\ninsurance to a resident of this state or to any firm, association, or\ncorporation authorized to do business herein, or solicitation of\napplications for any such policies or contracts;\n (B) making, or proposing to make, as warrantor, guarantor or surety,\nany contract of warranty, guaranty or suretyship as a vocation and not\nas merely incidental to any other legitimate business or activity of the\nwarrantor, guarantor or surety;\n (C) collecting any premium, membership fee, assessment or other\nconsideration for any policy or contract of insurance;\n (D) doing any kind of business, including a reinsurance business,\nspecifically recognized as constituting the doing of an insurance\nbusiness within the meaning of this chapter; or\n (E) doing or proposing to do any business in substance equivalent to\nany of the foregoing in a manner designed to evade the provisions of\nthis chapter.\n (2) Notwithstanding the foregoing, the following acts or transactions,\nif effected by mail from outside this state by an unauthorized foreign\nor alien insurer duly licensed to transact the business of insurance in\nand by the laws of its domicile, shall not constitute doing an insurance\nbusiness in this state, but section one thousand two hundred thirteen of\nthis chapter shall nevertheless be applicable to such insurers:\n (A) transactions by any life insurance company organized and operated,\nwithout profit to any private shareholder or individual, exclusively for\nthe purpose of aiding any charitable, religious, educational or\nscientific institution organized and operated, without profit to any\nprivate shareholder or individual, by issuing insurance or annuity\ncontracts directly from its home office, without agents or\nrepresentatives in this state, only to or for the benefit of such\ninstitutions and to individuals engaged in their service;\n (B) transactions with respect to group life, group annuity, group\naccident and health or blanket accident and health insurance (other than\nany transaction with respect to a group annuity contract funding\nindividual retirement accounts or individual retirement annuities, as\ndefined in section four hundred eight of the Internal Revenue Code,\nfunding annuities in accordance with subdivision (b) of section four\nhundred three of such code or providing a plan of retirement annuities\nunder which the payments are derived wholly from funds contributed by\nthe persons covered):\n (i) where such groups conform to the definitions of eligibility\ncontained in;\n (I) the following par
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