New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter B - Property and Casualty Insurance
Part 60 - Minimum Provisions For Automobile Liability Insurance Policies And Supplementary Uninsured Motorists Insurance
Subpart 60-4 - Peer-to-Peer Car Sharing Programs: Minimum Provisions for Group Policies and Other Requirements
Section 60-4.7 - Additional Requirement
Current through Register Vol. 46, No. 12, March 20, 2024
(a) The insurer shall be responsible for mailing or delivery of a certificate of insurance to each group member in accordance with Insurance Law section 3458(h).
(b) Pursuant to General Business Law section 902(2), a group policy shall provide that the group policy is primary over a policy issued in satisfaction of Vehicle and Traffic Law article 6 and in accordance with section 60-4.3(h) of this Subpart.
(c) Pursuant to General Business Law section 902(1), if insurance maintained by a peer-to-peer car sharing program administrator pursuant to General Business Law section 901(2) has lapsed, then the peer-to-peer car sharing program administrator shall retain liability during such lapse. If the group policy lapses, then the peer-to-peer car sharing program administrator shall be subject to Subparts 65-3 and 65-4 of this Title.
(d) No group policy or certificate shall contain any deductible or self-insured retention with respect to liability, no-fault or supplementary uninsured/underinsured motorist coverage, provided, however, a group policy may set forth a liability insurance deductible for which the insurer is responsible to pay for damages to third-party claimants and the peer-to-peer car sharing program administrator is solely responsible for reimbursing the insurer up to the amount of the liability insurance deductible. A group member shall not be held responsible for reimbursing the insurer or the peer-to-peer car sharing program administrator for the amount of the deductible.
(e) No group policy or certificate shall be subject to a group or sub-group aggregate liability limit of any kind at any time, and any liability limit applicable to a group member shall:
(f) Group policy forms and rates of an authorized insurer shall comply with Insurance Law article 23 standards, and no such rates shall be excessive, inadequate, unfairly discriminatory, destructive of competition, detrimental to solvency, or otherwise unreasonable, subject to the following factors:
(g) Except with respect to requiring a shared vehicle driver or shared vehicle owner to be insured under the group policy required by General Business Law article 40, no insurer shall provide coverage in regard to a group program that:
(h) No insurer shall provide coverage in regard to a group if: