September 18, 1989
Supplement To Circular Letter No. 11 (1989)
TO: ALL LICENSED PROPERTY/CASUALTY INSURERS & PRODUCER ORGANIZATIONS
RE: STATUTORY REVISIONS AFFECTING CANCELLATION, CONDITIONAL RENEWAL AND NONRENEWAL OF COMMERCIAL RISK, PROFESSIONAL LIABILITY AND PUBLIC ENTITY INSURANCE POLICIES IN NEW YORK STATE
An error that appeared on page 4 of Circular Letter No. 11 (1989), dated August 16, 1989, mis-characterized the provisions of § 3426(j) of the Insurance Law regarding the nonrenewal of group property/casualty policies.
Subsection (j) provides that the provisions of § 3426(e) regarding conditional renewal only apply to the master contract, and do not apply individually to each certificate holder. The provisions of § 3426(e) regarding nonrenewal, however, continue to apply individually to each certificate holder.
Very truly yours,
JAMES P. CORCORAN
SUPERINTENDENT OF INSURANCE