What is NY Insurance Law 4231?
Asked by: Kamille Mills DVM | Last update: May 11, 2025Score: 4.3/5 (14 votes)
What is Section 3411 I of the New York Insurance Law?
(i) Payment of a physical damage claim shall not be conditioned upon the repair of the automobile, provided, however, the insured shall replace any inflatable restraint system (airbag), as defined in subparagraph (b) of S 4.1.
What is Section 312 of the New York insurance law?
Report on examination to be forwarded. (a) The superintendent shall forward to every insurer or other person examined a copy of the report on examination as filed for public inspection, together with any recommendations or statements relating thereto which he may deem proper.
What is Section 4240 of the New York Insurance Law?
(1) Income, gains and losses, whether or not realized, from assets allocated to a separate account shall, in accordance with the applicable agreement or agreements, be credited to or charged against such account without regard to other income, gains or losses of the insurer.
What is New York Insurance Law 3214?
New York Ins. Law § 3214 (c) requires the payment of interest on the proceeds of an insurance policy or annuity contract that are paid to a beneficiary following a death claim thereon. The statute provides as follows: § 3214.
3 Legal Concepts of the Insurance Contract
What is the no fault auto insurance law in NY?
What Is No-Fault insurance? Under New York no-fault insurance law, each injured victim of an auto accident is entitled to payment for certain first party benefits. These benefits include all medical expenses up to a limit of $50,000 and lost wage benefits for up to three years.
What is the maximum amount a public adjuster can charge in NY?
The Adjuster may not charge you any fees that total more than 12.5% of the recovery for services rendered by the Adjuster, except that the Adjuster may charge a fee of up to 20% on a supplemental claim if the aggregate fee charged is less than or equal to 12.5% of the full claim payment.
What is NY insurance law 4216?
A policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer.
What is New York Insurance Law 4105?
Domestic stock companies; declaration and payment of dividends. (a) Except as provided in subsection (c) of this section no domestic stock property/casualty insurance company shall declare or distribute any dividend to shareholders except out of earned surplus.
What is Section 407 A of the New York Limited Liability Company Law?
(a) Whenever under this chapter members of a limited liability company are required or permitted to take any action by vote, except as provided in the operating agreement, such action may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action ...
What is New York insurance law 2115?
No insurer doing business in this state, and no agent or other representative thereof, except as provided in subsection (b) hereof, shall pay any commission or other compensation to any person, firm, association or corporation for acting as insurance agent in this state, except to a licensed insurance agent of such ...
What is New York Insurance Law 3234?
New York Insurance Law Section 3234 provides, in pertinent part, that every insurer, including an HMO, is required to provide its insured or subscriber with an EOB in response to a filed claim under any policy providing hospital or medical expense benefits.
What is Section 7427 of the New York Insurance Law?
Offsets. (a) In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this article, such credits and debts shall be set off and the balance only shall be allowed or paid, except as provided in subsection (b) hereof.
What is Section 4119 of the New York Insurance Law?
A company seeking accreditation in New York must also meet the seasoning requirement of Section 4119 of the New York Insurance Law. This section provides that the company must have continuously transacted an insurance business in its state of incorporation for at least three years.
What is Section 770 of the insurance Code?
No person engaged in the business of financing the purchase of real or personal property or of lending money on the security of real or personal property and no trustee, director, officer, agent or other employee, or affiliate of, any such person shall require, as a condition precedent to financing the purchase of such ...
What is New York Insurance Law 1411?
No domestic insurer shall enter into any agreement in connection with the sale of any property to repurchase such property or any part thereof, except that such an insurer may (subject to the provisions of subsection (b) of this section) sell securities subject to an unconditional obligation to repurchase the same on a ...
What is New York Insurance Law 4240?
Law § 4240(d)(2) (McKinney 2000), the Superintendent has the authority to determine the appropriate grace, reinstatement and nonforfeiture provisions for individual variable annuities with a guaranteed minimum income benefit feature.
What is the rule 15 in insurance?
Public Law 15 (McCarran Act) is a congressional act of 1945 exempting insurance from federal antitrust laws to the extent that the individual states regulate the industry.
What is New York Insurance Law 1503?
(a) Every person who becomes a controlled insurer shall, within thirty days thereafter register with the superintendent and shall amend the registration within thirty days following any change in the identity of its holding company or any other material change to the information provided in the registration.
What is NY Insurance Law 1102?
(a) No person, firm, association, corporation or joint-stock company shall do an insurance business in this state unless authorized by a license in force pursuant to the provisions of this chapter, or exempted by the provisions of this chapter from such requirement.
What is NYS V&T Law 4011a?
a. No motor vehicle shall be operated or driven upon the public highways of this state without first being registered in accordance with the provisions of this article, except as otherwise expressly provided in this chapter.
What is NY Insurance Law 403?
"Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act ...
Can you negotiate with a public adjuster?
Yes, you absolutely can and should negotiate with insurance adjusters. Negotiation is a normal part of the claims process.
Is a public adjuster a good idea?
In simple terms: If you feel overwhelmed by the insurance claim process or believe you are not getting a fair settlement, hiring a public adjuster can be beneficial. Here's a quick overview to help you decide: If your claim is large or complex, a public adjuster can ensure you get the maximum settlement.
How much does a public adjuster cost per hour?
How Much Can You Expect to Pay on an Hourly Rate? Rates for public adjuster fees vary based on location, experience of the public adjuster, and the nature of the matter. Believe it or not, rates may vary anywhere from as little as $325 an hour to $750 an hour or more.