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  1. Loss runs—insurance company requirements | Ask PIA

    Is there any N.Y. law relating to an insurer’s requirement to furnish loss runs?

    Yes, there is for most commercial-lines policies. Every notice mailed or delivered by an insurer in conformance with Section 3426 (includes midterm cancellation notices, nonrenewal notices, conditional renewal notices and the notices provided under the alternative renewal notice procedure) must advise the first-named insured and such insured’s authorized agent or...

  2. Drive-other-car coverage—rental cars | Ask PIA

    Does a business auto policy, endorsed with drive-other-car coverage, afford New York rental car coverage to the named individual on the endorsement?

    No. The fact that a DOC endorsement is being used to provide coverage for an employee of the business entity signals that the named insured is not an individual. The Rental Vehicle Coverage Endorsement is only available on a BAP when the named insured is an individual and the policy insures...

  3. Rental car coverage limits | Ask PIA

    Is the coverage provided by New York’s Rental Vehicle Coverage Endorsement of the personal auto policy subject to any maximum limits or deductibles?

    No. The physical damage coverage deductibles on the policy, if any, do not apply to the Rental Vehicle Coverage Endorsement. The endorsement’s coverage pays for the insured’s obligation for actual damage to, or loss of, a rental vehicle (including loss of use by the rental-car company while the vehicle is...

  4. Physical damage inspections—used vehicles | Ask PIA

    A policyholder bought a car from a used-car dealer, but she did not have a physical damage inspection within 14 days. An accident subsequently occurred, and the company denied collision coverage. The policyholder has her own “before” and “after” pictures showing there was no prior damage to the vehicle. Also, isn’t...

    It is possible the denial is justified, but the model year of the auto and the time insured with the same insurer could alter the outcome. There is no option to waive an inspection on newly purchased used autos, unless the insurer elects to waive inspections on: autos...

  5. Physical damage inspections—waivers | Ask PIA

    Our companies are not consistent in their physical damage inspection requirements. Some waive the inspection if they have written the policy for four years or if the vehicle is at least seven years old. Other companies require inspections in these cases. Are they required to waive the inspections?

    No. According to 11 NYCRR 67.3. In the two circumstances you cite, a company is permitted, but not required, to waive the inspection.

  6. Bank insurance requirements—excess insurance | Ask PIA

    My client has a 1979 mobile home on a nice piece of property. The bank wants a replacement-cost guarantee in the amount of $47,000 to cover the amount of the client’s mortgage. Can they require something like this?

    No. They can require only that the policy cover the value of the insured structure—in this case, the mobile home. If you are having trouble convincing the bank of this, PIANY can send you the applicable banking rules. For a copy, simply send an email to PIA’s Industry Resource Center...

  7. NYAIP—surcharge | Ask PIA

    I have a couple insured in the New York Automobile Insurance Plan. The wife’s driving record is clean, but the husband’s record is not. However, he currently is in the Army, stationed in Korea. Why should the policy be surcharged because of his record when he is not technically residing...

    If the husband is serving overseas, he should not be listed as a member of the household. According to Rule 22, Private-Passenger Automobile Classifications, Section E. (3) of the New York Automobile Insurance Plan manual—Private-Passenger Automobile Chapter: 3. The term “resident in the same household” shall include an...

  8. NYAIP: Garage policy drive-other-car coverage | Ask PIA

    My insured has a New York Automobile Insurance Plan garage dealers policy and wants to add two private-passenger vehicles, registered in the corporate name, which will be assigned to corporate officers. Can drive-other-car coverage be added by endorsement for the specifically registered vehicles?

    Yes, these vehicles fit the definition of an eligible risk/insured. The vehicles can be added to the garage policy and I.D. cards can be issued. Drive-other-car coverage also can be added by attaching endorsement number CA 99 10 (See Rule 101).

  9. NYAIP: Garage policy liability coverage | Ask PIA

    Under a New York Automobile Insurance Plan garage dealers policy, can I obtain broad-form CGL coverage like the coverage which is available in the voluntary market?

    No, such coverage is not available in the plan. The NYAIP provides only bare-bones garage coverage, plus coverage for any auto exposures the garage may have through specifically registered vehicles.

  10. Excess-line placements | Ask PIA

    I am having a very hard time placing a specialty line. I think I have found a market, but it is with an unauthorized company through an out-of-state excess-line broker. Can I use it?

    With the exception of independently procured insurance (direct placements by insureds), whenever an excess-line policy is sold representing New York as the insured’s home state, an excess-line broker licensed in New York state must be a party to that transaction (Federal Nonadmitted and Reinsurance Reform Act of 2010—see 15 U.S.C....

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