N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 62-2.0

Current through Register Vol. 46, No. 45, November 2, 2024
Section 62-2.0 - Introduction

The purpose of this Subpart is to implement the provisions of section 318 of the Insurance Law, which requires insurers to report fire losses to a central organization engaged in property loss registration in order to prevent payment of fraudulent claims arising under insurance policies providing coverage against the peril of fire. Requirements shall include: reporting of data on fire losses in excess of $1,000 to a central organization engaged in property loss registration, as designated by the superintendent; verification procedures to be applied by insurers prior to the payment of fire losses; notification by insurers to law enforcement agencies when the insurer is of the opinion that the fire was caused by other than accidental means; and cooperation with tax districts and agencies responsible for demolition of structures and seeking to claim proceeds of fire insurance coverage to satisfy tax liens and demolition charges.

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 62-2.0

Amended, New York State Register, Volume XXXVI, Issue 27, effective 7/9/2014