New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter I - GENERAL PROVISIONS
Part 15 - Simplified Comprehensive Policies Of Insurance
Section 15.5 - Replacement of coverages upon policy termination

(a) An approved policy may, notwithstanding any provision of the Insurance Law, provide for termination of coverage by cancellation or non-renewal by the insurer upon not less than 45 days written notice to the named insured, except where cancellation is for non-payment of premium, in which case only 15 days written notice need be provided.

(b) After an approved policy has been in effect for 60 days or, if the policy is a renewal, effective immediately, every notice of cancellation or non-renewal, except where cancellation is for non-payment of premium, shall offer the named insured replacement policies for the basic coverages insured under the approved policy. Replacement policies which are not subject to the provisions of section 3425 need not be offered.

(c) Replacement policies shall be offered with limits of coverage approved by the superintendent, provided that the insured may accept any or all of the replacement policies offered and may select lower limits of coverage for any or all of the replacement policies accepted.

(d) Each replacement policy shall be issued at the rate which is in effect for such policy on its date of issue.

(e) Each replacement policy which is subject to the provisions of section 3425 of the Insurance Law shall be subject to such provisions as if it had been originally issued on the day when coverage first commenced under the approved policy and renewed at annual intervals thereafter in accordance with the provisions of section 3425.