New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter V - Rates And Rating Organizations
Subchapter B - Commercial And Industrial Risks
Part 154 - Private Passenger Motor Vehicle Insurance Multi-tier Programs
Section 154.4 - Disclosure requirements

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 154.4

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

(a) The notice of intent to uptier shall specify the reasons underlying the insured's placement in the higher rated tier and the premium that will be charged as a result of uptiering.

(b) Upon issuance of the policy or upon the annual policy renewal, the insurer shall mail or deliver a notice to the first named insured, at the address contained in the policy, explaining the multi-tier program. All such notices shall contain the name and a toll free telephone number of a person that the insured may call to obtain a more detailed explanation of the insured's tier assignment.

(c) Every private passenger motor vehicle policy, either on the declarations page or the renewal notice, shall indicate the insured's designated tier.

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