August 2, 1979
SUBJECT: INSURANCE
Circular Letter No. 21 (1979)
WITHDRAWN
TO: ALL INSURERS AUTHORIZED TO WRITE PRODUCT LIABILITY INSURANCE IN NEW YORK STATE
SUBJECT: SUMMARIES OF CANCELLATIONS AND NONRENEWALS OF PRODUCT LIABILITY INSURANCE
Chapter 260 of the Laws of 1979 added a new Section 167-e to the Insurance Law, effective June 19, 1979, which requires the semi-annual reporting to the Superintendent of all information concerning the cancellation and nonrenewal of product liability insurance during the preceding six month period.
Product liability insurance, as defined in new Section 167-b(3) of the Insurance Law, means "insurance issued or delivered in this state insuring against liability of the insured for damages for personal injury, death or property damage, where such liability is based upon negligence, implied warranty or strict liability, arising out of a design, inspection, testing or manufacturing defect, or any other defect in a product, or is based upon any failure to warn, or to properly instruct in the use of a product or for any liability for any damage arising out of the handling or use of any product manufactured, sold, handled or distributed by the insured or work completed by or on behalf of the insured."
Each insurer engaged in the writing of product liability insurance in this State, either as a separate policy or as a component of a policy, shall file with the Superintendent a Summary of Cancellations and Nonrenewals of Product Liability Insurance in accordance with the forms attached.
Such forms should be completed and transmitted to this Department by October 1, 1979 for all policies cancelled or nonrenewed during the six month period ending June 30, 1979.
The completed Summary forms, signed by a responsible officer of the insurer, should be mailed to:
Mr. Harold I. Baida, Principal Insurance Examiner
Property and Casualty Insurance Bureau
State of New York Insurance Department
Two World Trade Center
New York NY 10047
Reports will also be required for the six month period ending December 31, 1979 and should be completed and transmitted to this Department by January 31, 1980.
Very truly yours,
[SIGNATURE]
ALBERT B. LEWIS
Superintendent of Insurance.
ATTACHMENTS
Summary of Cancellations of Product Liability Insurance
Period ending_______________
Insurer__________________________________________________________________________________________
Number of policies cancelled ___________________
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Type of: |
Reason for cancellation |
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|---|---|---|---|---|---|---|---|---|---|
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1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
Total |
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A. Products |
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a. Air conditioning equipment |
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b. Alcoholic beverages |
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c. Automobiles, supplies or equipment |
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d. Building materials |
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e. Chemical |
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f. Coal, wood or fuel (not gas or |
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petroleum) |
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g. Drugs |
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h. Electrical |
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i. Food or Food Products(excl. |
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Alcohol) |
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j. Gas or Petroleum |
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k. Heating equipment |
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l. Medical equipment or supplies |
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m. Optical goods |
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n. Plumbing |
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o. Tools and machinery |
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p. Others (attach separate sheet) |
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Total |
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B. Policies |
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a. Product Liability |
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b. CGL (incl. Product Liability) |
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c. Comm'l Package(incl. Product |
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Liability) |
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d. Others(Incl. Product Liability) |
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Total |
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Footnote |
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Each policy included in the summary is to be assigned only one of the |
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following major reasons for cancellation: |
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1. Poor loss experience of insured - Product Liability |
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2. Poor loss experience of insured - Coverage other than Product Liability |
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3. Poor safety engineering |
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4. Increase in hazard of product |
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5. Termination of producer |
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6. Non-payment of premium |
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7. Insured's request |
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8. All others |
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_____________________________________________
Contact person's name & Telephone No.
_____________________________________________
Person responsible for report
Summary of Nonrenewals of Product Liability Insurance
Period ending_______________
Insurer__________________________________________________________________________________________
Number of policies nonrenewed ___________________
|
Reason for nonrenewal |
|||||||||
|
Type of: |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
Total |
|
A. Products |
|||||||||
|
a. Air conditioning equipment |
|||||||||
|
b. Alcoholic beverages |
|||||||||
|
c. Automobiles, supplies or equipment |
|||||||||
|
d. Building materials |
|||||||||
|
e. Chemical |
|||||||||
|
f. Coal, wood or fuel (not gas or |
|||||||||
|
petroleum) |
|||||||||
|
g. Drugs |
|||||||||
|
h. Electrical |
|||||||||
|
i. Food or Food Products(excl. |
|||||||||
|
Alcohol) |
|||||||||
|
j. Gas or Petroleum |
|||||||||
|
k. Heating equipment |
|||||||||
|
l. Medical equipment or supplies |
|||||||||
|
m. Optical goods |
|||||||||
|
n. Plumbing |
|||||||||
|
o. Tools and machinery |
|||||||||
|
p. Others (attach separate sheet) |
|||||||||
|
Total |
|||||||||
|
B. Policies |
|||||||||
|
a. Product Liability |
|||||||||
|
b. CGL (incl. Product Liability) |
|||||||||
|
c. Comm'l Package(incl. Product |
|||||||||
|
Liability) |
|||||||||
|
d. Others(Incl. Product Liability) |
|||||||||
|
Total |
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|
Footnote |
|||||||||
|
Each policy included in the summary is to be assigned only one of the |
|||||||||
|
following major reasons for nonrenewal: |
|||||||||
|
1. Poor loss experience of insured - Product Liability |
|||||||||
|
2. Poor loss experience of insured - Coverage other than Product Liability |
|||||||||
|
3. Poor safety engineering |
|||||||||
|
4. Increase in hazard of product |
|||||||||
|
5. Termination of producer |
|||||||||
|
6. Non-payment of premium |
|||||||||
|
7. Insured's request |
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|
8. All others |
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_____________________________________________
Contact person's name & Telephone No.
_____________________________________________
Person responsible for report