November 21, 1978
Circular Letter No. 17, (1978)
To: ALL INSURERS LICENSED PURSUANT TO SECTION 168-d OF THE NEW YORK INSURANCE LAW.
SUBJECT: REGULATION 86-- DISCLOSURE TO INSUREDS.
Section 16.3 of Regulation 86 reads as follows:
"16.3 Disclosure to Insureds. The following wording shall appear on the front page of each binder, policy contract, rider, endorsement, billing and/or invoice issued pursuant to the provisions of Section 168-d of the insurance Law:
WARNING: NOT SUBJECT TO THE FILING AND/OR APPROVAL REQUIREMENTS OF NEW YORK STATE INSURANCE LAW AND REGULATIONS WITH RESPECT TO POLICY AND/OR CONTRACT FORMS AND RATES.
The words of the warning shall be in bold capital letters, each of which shall be no less than three eighths of an inch in height. The words of the warning shall be enclosed in a border." (Emphasis added)
The words ". . . no less than three-eights of an inch in height . . . " in the above quote have been interpreted to apply only to the word "Warning" at the beginning of the disclosure statement. Therefore, it is sufficient to comply with the regulation that only the word "Warning" be of no less than three-eights of an inch in height followed by the words of the warning in bold capital letter.