New York State Seal
STATE OF NEW YORK
INSURANCE DEPARTMENT
25 BEAVER STREET
NEW YORK, NEW YORK 10004

George E. Pataki
Governor

Howard Mills
Superintendent

The Office of General Counsel issued the following opinion on August 16, 2005, representing the position of the New York State Insurance Department.

Re: Loss Information Requests.

Question Presented:

What is the time period within which an insurance carrier must respond to an insured’s request for loss information?

Conclusion:

N.Y. Ins. Law Insurance Law § 3426(g)(2) provides that upon the written request for the first named insured or such insured’s authorized agent or broker, an insurance carrier shall mail or deliver loss information within 20 days of such request.

New York State Insurance Law § 3426(g)(2) (McKinney 2000 & Supp. 2005) provides:

Upon written request by the first-named insured or such insured's authorized agent or broker, the insurer shall mail or deliver the following loss information covering a period of years specified by the superintendent by regulation or the period of time coverage has been provided by the insurer, whichever is less, within twenty days of such request:

(A) Information on closed claims, including date and description of occurrence, and any payments;

(B) Information on open claims, including date and description of occurrence, and amounts of any payments; and

(C) Information on notice of any occurrences, including date and description of occurrence.

The Superintendent has not specified by regulation the period of time to be covered in the loss information provided. Therefore, in the absence of a regulation, the insurer must provide loss information covering the period of time that coverage has been provided by the insurer. However, § 3426(g)(2) does not require an insurer to provide loss information for periods of time beyond the record retention requirements of N.Y. Comp. Codes R. & Regs. tit. 11, Part 243 (1996) (Regulation 152).

The Department’s website, www.ins.state.ny.us, contains the text of the New York State Insurance Law through the "links" tab. And the New York State Insurance Law can be accessed directly at http://public.leginfo.state.ny.us/menugetf.cgi.

For additional information you may contact Supervising Attorney Samuel Wachtel at the New York City office.