November 12, 1975
Circular Letter No. 14 (1975)
November 12, 1975
TO: ALL FOREIGN AND ALIEN INSURANCE COMPANIES AUTHORIZED TO TRANSACT FIRE INSURANCE BUSINESS IN THE STATE OF NEW YORK
Sections 553 and 554 of the New York State Insurance Law provide that the tax imposed by such Sections on every foreign and alien fire insurance company authorized to do business in this State shall be distributed to the various fire departments throughout the State.
In order to comply with this requirement, the company must properly allocate its fire premiums to the cities, villages, fire districts or fire protection districts in which the insured property is located.
To insure the accuracy of this allocation, every policy or contract of fire insurance issued by a foreign or alien insurer and all other policies or contracts of insurance issued by a foreign or alien insurer containing any coverage against the hazard of fire (including allied lines insofar as mutual companies are concerned) should contain the exact name of the city, village, fire district or fire protection district in which the covered risk is located. In cases where the covered risk is located in more than one city, village, fire district or fire protection district, the names of all of the areas involved should be included and the amount of premium applicable to each city, village, fire district or fire protection district should be indicated.
In those instances where the above information is not required to be included in the policy form because of the manner in which the coverage is written, it shall be required that the company include such information in a separate work sheet or code sheet attached to its copy of the policy form.
Please acknowledge receipt of this directive to Mr. Robert J. Reedy, Assistant Director of Administration, New York State Insurance Department, 324 State Street, Albany, New York 12210
Thomas A. Harnett
Superintendent of Insurance