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  1. Accident notification | Ask PIA

    An insured, while driving a rental vehicle outside of New York state, has an at-fault accident causing damage to both the rental vehicle and another vehicle. Since the rental-car company would be paying for both, the insurance company will not know of the accident; therefore, they will not be surcharged...

    I would counsel the insured to report every auto accident to his or her personal auto policy insurer. There is a potential for personal injury protection claims, supplementary uninsured/underinsured motorists claims, excess liability claims, and rental vehicle coverage claims due to exclusions in the collision damage waiver protection. If the...

  2. Substitute rental car | Ask PIA

    We had an insured rent a vehicle in Arizona from Enterprise and they told him that he should take out the insurance because, if he had any kind of fender bender, he would have to pay for the cost of a rental while that vehicle was getting repaired. This was...

    I have heard of high-pressure and “scare tactics” to encourage people to buy the coverage rental car companies sell. I understand why the insured would be upset to learn that the balance of the rental fee he paid for the damaged vehicle would not transfer to a replacement vehicle.I checked...

  3. Duty after loss | Ask PIA

    In regard to duties after a loss, are you permitted to return the vehicle to the rental-car company even though it has not been inspected by the renter’s insurance company?

    There is nothing in the insurance contract to prevent the insured from turning back the damaged rental vehicle to the rental-car company before it has been inspected. However, as long as the insured still has the rental vehicle, the insured must permit the company to inspect the damage.

  4. Credit-card coverage | Ask PIA

    What’s the best credit card to use to rent a vehicle?

    If the renter has a New York auto policy with rental vehicle coverage, the “right” card is irrelevant, since the Rental Vehicle Coverage Endorsement provides the best protection and likely voids the credit-card coverage, anyway. However, having the “right” card WILL make a difference once you leave the coverage territory...

  5. Cyber security regulation—risk assessment | Ask PIA

    Is there a specific qualification for the risk assessor? In other words, can the owner/principal of the agency or an agency employee perform the risk assessment? Could it be our third-party informational technology professional? Does it have to be a third party? Is there a New York state-approved vendors list?

    There is no standard or certification for the person who performs the risk assessment. It could be any competent party that’s able to provide a risk assessment that fits the regulation’s requirements. Where do I start? You must start with a risk assessment. Section 500.09 requires all covered entities to...

  6. Homeowners additional insured | Ask PIA

    This question concerns a homeowners policy. A brother had leased a home to his sister for life. The home burned and the sister was killed. The brother does not think he was listed as an additional insured on the policy, but was listed on the deed to the home. The...

    Not likely. To collect under standard ISO homeowners policies, the brother must both be an insured and have an insurable interest. The brother has an insurable interest, but apparently is not an insured. The policy was issued to the sister as an occupant of a dwelling under a life estate....

  7. Fiduciary obligations | Ask PIA

    What are New Hampshire’s rules concerning the establishment of a premium trust account?

    The answer can be found in New Hampshire Code Section Ins 4301.04—Establishment of Premium Trust Accounts, which pertains to the fiduciary obligations of agents and brokers, including the rules for trust accounts. In particular, every insurance producer who expects to receive premiums or return premiums on New Hampshire business is...

  8. Adverse actions based on credit scores | Ask PIA

    What must take place after an insurer has taken adverse action against a person because of his or her credit score?

    If an insurer takes any adverse action with respect to any consumer that is based in whole or in part on an insurance score, the requirements contained in Part Ins 3309 of the New Hampshire regulations kick in. Keep in mind that an individual’s credit score is only one...

  9. Rental cars—vehicle-sharing program | Ask PIA

    My client has a New York personal auto policy and will be renting a vehicle in Florida. Turo is providing the vehicle on a vehicle-sharing basis. Will the New York rental car endorsement cover the vehicle they are renting?

    Turo does not own the vehicle and, therefore, the vehicle is not a “rental vehicle.” Consequently, it is not covered under the New York rental vehicle coverage endorsement. According to Vehicle and Traffic Law Section 137-a., a "rental vehicle" as defined as: A vehicle...

  10. When a mortgage lender demands excessive limits | Ask PIA

    How much insurance can a mortgage lender require the mortgage applicant to have?

    In New York, mortgage lenders cannot require, as a condition for granting a “mortgage loan,” that a mortgagor obtain a hazard insurance policy in excess of the replacement cost of the improvements on the property. This provision is found in Section 9 of Part 38 of the General Regulations...

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