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 September 28, 2005, representing the position of the New York State Insurance Department.

RE: Renewal Requirements for Commercial Risk Policies

Question Presented:

May a commercial risk insurer, when renewing a policy, attach only an updated declarations page along with newly added or amended endorsements, or must it send out the entire policy to the insured?

Conclusion:

Yes. A commercial risk insurer when renewing a policy, need not send out the entire policy. Rather it may send out only the amended or added endorsements along with a declaration page.

Facts:

The inquirer’s company would like to renew a commercial risk policy. After complying with the requirements under N.Y. Ins. Law § 3426 (McKinney 2000), the inquirer now wishes to know if it needs to send out the entire policy to the insured or just send a declaration page with the newly added endorsements.

Analysis:

This question was asked in light of a Department letter dated January 27th, 2000 (OGC Opinion # 00-01-09). In that letter the Department opined, where there are no changes to the policy, that upon renewal of a non-commercial automobile insurance policy, all the insurer need send out is a declaration page. The Department believes that because, the analysis is no different in this case, upon renewal, all the insurer need send out is a declaration page. Where there are added or amended endorsements, those endorsements must be included as well.

However if there are changes to the policy itself, the insurer must send a new policy.

For further information please contact Principal Attorney Paul A. Zuckerman at the New York City Office.