New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IX - Unfair Trade Practices
Part 218 - Prohibition Against Geographical Redlining And Discriminating In Certain Property/casualty Policies
Section 218.3 - Notices to insureds or applicants
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 218.3
Current through Register Vol. 46, No. 12, March 20, 2024
(a) An insurer or its agent, consistent with its method of marketing, shall furnish an application for insurance, upon request of the applicant or the applicant' s representative, or upon request of a broker that has an account with the insurer or its agent. An agent or broker shall transmit an application for insurance to the appropriate office of the insurer within five working days after the application is received by such agent or broker from the applicant or the applicant's representative.
(b)
(1) All
notices by an insurer, to new applicants for insurance or to insureds, of
refusal to issue, or to nonrenew or to cancel coverage, shall state the
specific reason or reasons for such action. A specific reason shall not be an
unsupported general statement such as "underwriting judgment".
(2) All notices by an insurer, to new
applicants for insurance, which state reasons for refusal to issue, shall be
mailed or delivered to the applicant not more than 30 days after the
application is received by the agent or broker.
(3) All notices to insureds of reasons for
nonrenewal of insurance shall be mailed or delivered in compliance with section
3425(d)(1) and section
3426(e) of the Insurance
Law.
Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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