NEW YORK STATE
EIGHTH AMENDMENT TO REGULATION NO. 96
(11 NYCRR 62-4)
I, Neil D. Levin, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Section 201, 301 and 3403 of the Insurance Law and Chapter 456 of the Laws of 1999, do hereby promulgate the following eighth amendment to Part 62-4 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation 96), to take effect upon publication in the State Register, to read as follows:
ALL MATERIAL IS NEW
Part 62-4 of Title 11 is amended by adding a new Section 62-4.3 to read as follows:
Section 62-4.3 Request for suspension or waiver of anti-arson application. (a) An insurer may apply to the superintendent, pursuant to Section 3403(h) of the Insurance Law, for a suspension or waiver of use of the anti-arson application upon policy renewal required by section 3403(f), if the insurer demonstrates that information substantially equivalent to the information contained in the anti-arson application can be obtained through other means.
(b) Any request for suspension or waiver shall list the specific sources used to elicit information contained in the anti-arson application. These sources may include, but are not limited to:
(1) the insurers renewal questionnaire;
(2) information obtained from high-technology data banks used by credit reporting agencies, rating agencies, or other similar entities; and
(3) physical inspection by the insurer of the insured property.
(c) Each request for suspension or waiver shall specify how each item of information in the anti-arson application shall be obtained through other sources. It shall also specify the frequency with which the insurer shall obtain such information but in no instance shall the frequency of obtaining each item of information be less than once in every twelve month period.
(d) Any information obtained through sources other than the anti-arson application shall be maintained in the insureds underwriting file subject to examination by the superintendent.
I, Neil D. Levin, Superintendent of Insurance of the State of New York, do hereby certify that the foregoing is the Eighth Amendment to 11 NYCRR 62-4 (Regulation 96), promulgated by me on September 8, 2000, pursuant to the authority granted by Sections 201, 301 and 3404 of the Insurance Law, to take effect upon publication in the State Register.
Pursuant to the provisions of the State Administrative Procedure Act, prior notice of the proposed amendment was published in the State Register on May 17, 2000. No other publication or prior notice is required by statute.
Neil D. Levin
Superintendent of Insurance
|Dated: New York, New York|
September 8, 2000
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