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

Eliot Spitzer
Governor

Eric Dinallo
Superintendent

The Office of General Counsel issued the following opinion on June 26, 2007, representing the position of the New York State Insurance Department.

Re: Wedding Insurance

Question Presented:

Has the Insurance Department approved the sale of wedding insurance in New York?

Conclusion:

Yes. The Insurance Department has, in the past, approved the sale of certain wedding insurance policies in New York.

Facts:

The inquiry is of a general nature, without reference to particular facts.

Analysis:

As a preliminary matter, the term “wedding insurance” is not defined in the Insurance Law or the regulations promulgated thereunder, and the types of coverage under such policies may vary greatly.  For example, certain wedding insurance policies fall within the ambit of “credit insurance,” which is defined in N.Y. Ins. Law § 1113(a)(17)(B) (McKinney Supp. 2007) as “indemnifying any person for expenses disbursed or to be disbursed under a contract in connection with the cancellation of a catered affair.”  (Such insurance is also known as “catered affair insurance.”)  The Department has, in the past, approved the sale of such “wedding insurance” policies that contain provisions that reimburse the insured in the event that the catered affair (i.e., the wedding) is cancelled.

Wedding insurance policies often set forth other provisions that come within one of the enumerated kinds of insurance that may be written in New York.  However, because wedding insurance provisions may vary in terms of what they cover, the Department is unable to state conclusively that it will approve a wedding insurance policy without first examining the particular policy.  Indeed, as a general matter, each policy form submission is reviewed on a case-by-case basis to determine whether the policy may be sold in New York.

For further information you may contact Assistant Attorney Joana Lucashuk at the New York City Office.