New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter I - GENERAL PROVISIONS
Part 16 - SPECIAL RISK INSURANCE
Section 16.4 - Policy forms and other standards

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 16.4

Current through Register Vol. 46, No. 39, September 25, 2024

(a) Every binder, policy, contract, rider and endorsement issued pursuant to section 6301 of the Insurance Law on special risks located or resident in New York State shall comply with minimum standard policy provisions of the Insurance Law and this Title.

(b) For a coverage coded as a class 3 risk pursuant to section 16.12 of this Part, the insurer shall electronically file with the superintendent a policy form that has not been previously filed with the superintendent. The insurer shall file the policy form in a form and manner acceptable to the superintendent, within three business days after first delivery of a policy using the form, but no later than 60 calendar days after the inception date of the policy.

(c)

(1) An insurer required to make a filing or a submission to the superintendent electronically pursuant to this Part may apply to the superintendent for an exemption from the electronic filing requirement by submitting a written request to the superintendent for approval at least 30 days in advance of making the filing or submission.

(2) The request for an exemption shall:
(i) identify the time period for which the insurer is requesting the exemption; and

(ii) specify whether the insurer is making the request for an exemption based upon undue hardship, impracticability, or good cause, and set forth a detailed explanation as to the reason that the superintendent should approve the request.

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