N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 62-4.3

Current through Register Vol. 46, No. 51, December 18, 2024

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) of the Insurance Law, 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 insurer's 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 12-month period.

(d) Any information obtained through sources other than the anti-arson application shall be maintained in the insured's underwriting file subject to examination by the superintendent.

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 62-4.3