New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter VII - Credit And Creditor Insurance
Part 187 - Credit Unemployment Insurance
Section 187.3 - Forms of credit unemployment insurance

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 187.3

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

(a) Credit unemployment insurance policies which provide benefits differing in kind or character from those set forth in paragraphs (1) and (2) of this subdivision shall be deemed not to conform with section 3201 (a) and (c)(8) of the Insurance Law.

(1) Benefits payable on any one of the following plans:
(i) after the 30th day of unemployment and retroactive to the first day of such unemployment; or

(ii) after the 30th day of unemployment.

(2) Under any other plan approved by the Superintendent of Insurance, benefits payable after such waiting periods and upon such conditions as he shall approve.

Provided that the benefits are paid only if the debtor or vendee qualifies for unemployment benefits in this State pursuant to article 18 of the Labor Law or would qualify thereunder but for the exclusion therefrom pursuant to subdivision (3), (4), (6), (10) or (11) of section 511 of the Labor Law, or by reason of exhaustion of benefits or length of employment. In the event that the involuntary unemployment is a result of a strike, lockout or illegal walkout, the waiting period to qualify for credit unemployment benefits shall begin at the end of the period which the insured must wait before receiving State unemployment benefits.

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