New York State seal

May 30, 1986

SUBJECT: INSURANCE

WITHDRAWN

Circular Letter No. 5 (1986)

TO: ALL AUTHORIZED PROPERTY/CASUALTY INSURERS

The Municipal Market Assistance Program (MMAP), officially activated on November 16, 1985, has been successful in obtaining liability insurance for over 150 municipalities and other public entities throughout New York State. Working in cooperation with the Insurance Department, twenty-one of the leading general liability insurers have voluntarily joined together to bring about this success. The insurers participating in the MMAP rotation plan are:

American International Group

The Hartford Group

Aetna Casualty & Surety Co.

The Home

CIGNA

Liberty Mutual

Chubb & Son

Maryland Casualty

Commercial Union

Nationwide

Continental Insurance

Royal

Continental National American

St. Paul Fire & Marine

Crum & Forster

Travelers

Fireman's Fund

United Community

General Accident

United States Fidelity & Guaranty

 

Wausau

In addition to Insurance Department staff, the Professional Insurance Agents Association and the Independent Insurance Agents Association have expended considerable time and energies in MMAP efforts.

Participating MMAP insurers and producers are to be commended for their efforts. I also urge all insurers to make every effort to provide a voluntary market for public entity risks in New York State. MMAP efforts will be enhanced if fewer public entities need to apply to MMAP in the first place.

In order to assist MMAP's operating efficiency, insurers are hereby requested to provide loss history information whenever a public entity risk is cancelled or non-renewed. In addition to the specific reasons for cancellation or non-renewal, the insurer should provide the insured with its loss history for at least five years or the period of time that the insurer was on the risk. This loss history should be furnished in sufficient detail to facilitate a proper underwriting review. Please contact Henry L. Lauer (212-602-0387), Chief of the Property & Casualty Insurance Bureau, if you have any questions.

Very truly yours,

JAMES P. CORCORAN

SUPERINTENDENT OF INSURANCE