Skip to Content

NOTE: WITHDRAWN EFFECTIVE AUGUST 25, 2006

SUPPLEMENT NO. 1 TO
CIRCULAR LETTER NO. 8 (1997)

MAY 21, 1998

TO:

ALL COMPANIES LICENSED TO WRITE LIABILITY INSURANCE

RE:

POLICIES COVERING INJURY TO ECONOMIC INTEREST

The purpose of this supplement is to provide the attached revised Proposed Regulation 110. This proposal reflects a broadening of coverage from the earlier draft circularized with Circular Letter No. 8 (1997), issued on March 28, 1997, and is based on comments received from interested parties since that time.

The proposal is intended to provide standards for policies covering Directors and Officers liability insurance, as well as other liability coverages generally categorized as insurance against loss "arising out of injury to the economic interests of any person". While the Regulation is under consideration, we will continue to review and, if appropriate, approve policy forms which conform to the attached proposed Regulation.

Insurers that have received approval under the draft proposal contained in the original Circular letter No. 8 (1997) may submit revised policies for consideration under these new standards if they want to make modifications to those forms.

Please Click Here for Proposed Regulation 110

Very truly yours,

Mark Presser
Assistant Deputy Superintendent
and Bureau Chief
Property Bureau

 

Link to DFS Portal

About DFS

Contact DFS

Reports & Publications

Licensing

Laws and Regs

Connect With DFS

DFS Facebook page

Follow NYDFS on Twitter