11 NYCRR Chapter III Subchapter B (Property and Casualty Insurance), Subpart 60-2 and Parts 67 and 73

What this document is

11 NYCRR Chapter III Subchapter B (Property and Casualty Insurance), Subpart 60-2 and Parts 67 and 73 - New York supplementary uninsured/underinsured motorists insurance, mandatory underwriting inspection of private passenger automobiles, and claims-made policy standards (Subpart 60-2 = Regulation 35-A; Part 67 = Regulation 79; Part 73 = Regulation 121) is a regulation published by New York State Department of State, Division of Administrative Rules - Official Compilation of Codes, Rules and Regulations of the State of New York (NYCRR). Served for free public access at govt.westlaw.com/nycrr by Thomson Reuters under contract with the Department of State, which manages NYCRR; the site's own footer names the Department of State as its principal.. It is one of the New York documents that insurance license exam questions are written from, including new york property & casualty, new york personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 11 NYCRR 73.2, 73.2(a) (Claims-made policies; types of coverages and risks)

  “Claims-made coverage any not be provided in any policy issued or renewed in this State, except that: (a) The following coverages or risks may be written on a claims-made basis: (1) completed operations liability; (2) directors and officers liability; (3) employee benefits liability; (4) errors and...”

• 11 NYCRR 73.3(f), (g) (Terms and conditions of claims-made policies; extended reporting period offers)

  “(f) Except as provided in subdivision (g) of this section, and sections 73.4 and 73.5 of this Part, upon termination of coverage, an insurer must offer the insured a three-year extended reporting period. (g) Upon termination of coverage for the following types of coverages or risks, the insurer...”

• 11 NYCRR 60-2.1(c) (Basics of SUM coverage; maximum amount payable)

  “(c) The maximum amount payable under the SUM coverage shall be the policy's SUM limit reduced and thus offset by any motor vehicle bodily injury liability insurance policy or bond payments received from, or on behalf of, any negligent party involved in the accident.”

• 11 NYCRR 73.2(e) (Types of coverages and risks; coverages for which claims-made is not permitted)

  “(e) Notwithstanding any other provision of this Part, claims-made coverage shall not be permitted for: (1) motor vehicle liability; or (2) any liability risk or coverage subject to section 3425 of the Insurance Law.”

• 11 NYCRR 73.3(a) (Terms and conditions of claims-made policies; when a claim is deemed first made)

  “(a) A claim will be deemed first made when the insurer receives written notice of a claim or suit from the insured or a third party, but this shall not preclude an insurer from utilizing written notice of incident as the trigger of coverage under the policy.”

• 11 NYCRR 73.3(b) (Terms and conditions of claims-made policies; retroactive date)

  “(b) A retroactive date may not be changed during the term of the claims-made relationship and any extended reporting period.”

• 11 NYCRR 60-2.3(f), Condition 6 (Requirements for SUM endorsements; non-stacking)

  “6. Non-Stacking: Regardless of the number of motor vehicles involved, persons covered, claims made, motor vehicles or premiums shown in this policy or premium paid, the limits, whether for UM coverage or SUM coverage, shall never be added together or combined for two or more motor vehicles to...”

• N.Y. Comp. Codes R. & Regs. tit. 11, Sec. 67.3(a) (Regulation 79; mandatory waivers of the inspection requirement)

  “Mandatory waivers. An insurer shall waive an inspection of: (1) a temporary substitute automobile; and”

• N.Y. Comp. Codes R. & Regs. tit. 11, Sec. 60-2.3(a) (Regulation 35-A; requirements for SUM endorsements; declarations page and offset)

  “(1) the SUM limits, instead of the amount of mandatory UM coverage; and (2) the maximum amount payable under SUM coverage shall be the policy's SUM limits reduced and thus offset by motor vehicle bodily injury liability insurance policy or bond payments received from, or on behalf of, any negligent...”

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