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Cancellation / nonrenewal issues

310024-00

Calculating the 60-45 day-notice time frame for personal lines
An insurance company sent a homeowner client of ours a nonrenewal notice. It was mailed on Oct. 1, and the policy expiration date is Nov. 30. Is......

310033-00

No short-rate for premium-financed policies
What is the minimum-earned premium rule of premium-financed policies?...

310104-00

Bad check is not payment
A client insured under a commercial package policy was sent a notice of cancellation for nonpayment. The insured then sent the company a check......

310108-00

Cancellation—premium-financed policies
Is an insurance company required to issue its own cancellation notice to the policyholder when a premium-financed policy is canceled for nonpayment?...

310210-00

Auto renewals—nonpayment cancellations
Can a company, after the renewal date, issue a cancellation notice for nonpayment of a New York personal auto policy renewal premium; and, if the......

310214-00

Offsets—premium-financed policy nonpayment cancellation
An insured paid a deposit premium with his personal check and premium financed the balance. The premium-finance company subsequently canceled the......

310228-00

Commercial lines—late nonrenewal procedure; short-term policy
We have a company that frequently misses the deadline for issuing nonrenewal notices on commercial-lines policies. In these cases, they issue......

310250-00

Nonpayment cancellation—policies paid from escrow accounts
Is there any special rule requiring an insurance company to notify the policyholder due to nonpayment of premium, where the policy is paid by the......

310251-00

Length of a binder
In New York state, how long is a binder good for?...

310252-00

Reinstatement after nonpayment cancellation is not required
Is there any rule requiring an insurance company to reinstate a policy that has been canceled due to nonpayment of premium?...

310253-00

Company not required to forego earned premium, accept LPR
We issued a binder for a client. Ultimately, they decided to go with another carrier instead. This was a year ago. The company is billing for the......

310255-00

Undisclosed driver—billing for additional premium
After an accident, a company learned that one of our personal auto policyholders has had an undisclosed youthful driver in the household for the......

310262-00

Time frame for mailing—personal lines nonrenewal notice
A company recently sent a nonrenewal notice to a personal-lines customer. In order to say that the company gave at least 45 days’ notice, we......

310267-00

Termination rights under Section 3425(j) extend to brokers
As an insurance wholesaler, our firm accepts business from licensed insurance brokers. If we terminate a broker’s agreement, is the broker......

310271-00

Nonpayment cancellations
When a nonpayment notice is issued, may an insurer add-in the next installment of a personal auto premium, on top of the amount already past due,......

310284-00

Time frames for canceling under the 60-day “free look”
If a company decides to cancel a brand-new policy during its 60-day “free look” period, when does the cancellation notice have to be......

310289-00

Auto renewal—at-fault accident
Can a company cancel an auto policy on renewal because an insured had an at-fault accident during the policy term?...

310290-00

Increased premium
Is a real-estate errors and omissions claims-made policy subject to the statutory requirement of 60 days’ notice for an increase......

310299-00

Commercial insurance policy cancellation based on an insured’s failure to comply with an insurer’s recommendations
Is an insured’s failure to comply with an insurer’s recommendations, in and of itself, a valid basis for canceling a new or renewed......

310303-00

Return premium calculation—midterm cancellation of premium-financed policy
Which cancellation procedure would be more advantageous to our client on a large, premium-financed commercial property risk? The policy has been......

310310-00

Cancellation/nonrenewal—workers’ compensation
Are workers’ compensation policies subject to the cancellation/nonrenewal rules of New York State Insurance Law Section 3426?...

310336-00

Short-rate cancellation—personal lines
When an insured cancels a New York personal-lines property/casualty policy, may the insurer calculate the return premium on a short-rate basis?...

310341-00

Late nonrenewal notice
My commercial-lines client just received a nonrenewal notice 10 days prior to his policy effective date. The notice states that they are......

310342-00

Personal auto—cancellation for nonpayment notification
One of our clients received a nonpayment cancellation notice for his personal auto policy in the mail; however, it did not state the amount due. I......

310347-00

Notice of cancellation on wholesale business
What are the notice obligations of an insurer to the retail producer when canceling or nonrenewing a policy that has been placed through a......

310352-00

Commercial-lines insurance cancellation notice
During the first 60 days a commercial-lines insurance policy is in effect, how many days written notice must be given for the policy cancellation......

310358-00

Does a notice of renewal supersede a previously sent notice of nonrenewal?
A carrier issued a notice of nonrenewal for a personal auto policy in June and then issued the renewal policy effective August and billed the......

310369-00

Homeowners cancellation due to catastrophic loss
Can an insurer nonrenew a homeowners policy due to a catastrophic loss?...

310380-00

Premium increase on a homeowners policy
On a New York homeowners policy, is the carrier required to give a 60-day conditional renewal notice for an increase in premium over 10 percent,......

310382-00

System changeover—increase in premium
One of my carriers is discontinuing their computer system. As a result, they are nonrenewing the commercial policies of all policyholders on that......

310388-00

Returned premiums—deceased insured or dissolved business
If an agency has funds for an insured that passed away or a business which no longer exists and, in turn, cannot return funds, what is the procedure?...

310407-00

Reinstatement after premium-finance agency cancels
My insured received a notice of nonpayment cancellation from a premium-finance agency. If the insured pays the premium-finance agency, must the......

310408-00

Renewal conditioned upon a new application
Sometimes our insured does not return their professional liability renewal application prior to the policy expiration; or does complete the......

310410-00

Cancellation notices—producers
Must an insurer that cancels an insurance policy in accordance with New York Insurance Law Section 3425 provide cancellation notices to all......

310425-00

Renewal policy substitute by affiliate insurer
When a new policy is issued to replace the previous policy at renewal, must the insurer provide a conditional renewal notice? Sometimes this......

310438-00

Authorized representative to receive cancellation notice
Is a cancellation notice effective if an insurance company fails to provide cancellation notice to the authorized insurance agent or broker that......

310514-00

Cancelling binders
Are insurance carriers allowed to retract/cancel a binder after it has been issued if they discover losses during the underwriting process?...

900240-00

Which agent should sign the ACORD 35
When a client decides to change from one policy to another—firing the old agent and hiring a new agent—which agent should complete the......

900281-00

Cancellation at policyholder’s request—effective date
Is a company required to cancel flat when the policyholder presents evidence that another policy was obtained for the same risk, and became......

900297-00

Back dating a policy
After two years of a policy being in force, can an insured request to back date cancellation two years. The insured has stated he has a duplicate......

900423-00

Nonpayment cancellation gap prevention
How does the effective time for nonpayment cancellation affect a policyholder who intends to make the payment on the cancellation date?...