New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IX - Unfair Trade Practices
Part 229 - Insurer Practices During The Covid-19 Pandemic
Section 229.4 - Prohibited practices
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 229.4
Current through Register Vol. 46, No. 39, September 25, 2024
With regard to a policyholder who does not make a timely premium payment and can demonstrate financial hardship as a result of the COVID-19 pandemic, an insurer shall not:
(a) impose any late fees relating to such premium payment; or
(b) report the policyholder to a credit reporting agency or refer the policyholder to a debt collection agency with respect to such premium payment.
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