NYAIP Offers Primary/Noncontributory, Waiver of Subrogation

​The New York Automobile Insurance Plan​​ has added a rule that will permit its policyholders to waive subrogation rights and make other concessions to third parties. The rule, which took effect on August 1, calls for a 3 percent premium surcharge.The new Rule 60, which applies only to Bodily Injury and Property Damage Liability Coverage, states in its entirety:If the insured requests, in writing, either a waiver(s) of subrogation or a primary and noncontributory—other insurance condition or both to comply with contractual requirements, increase the bodily injury and property damage total policy premium by 3%.Attach the applicable endorsement(s).The 3% surcharge applies whether the insured requests…

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NY State Insurance Fund Offers PPE Credit

​The New York State Insurance Fund is offering its Workers' Compensation insurance policyholders a credit to offset the cost of purchasing personal protective equipment (PPE) for use during the COVID-19 pandemic. You may hear about this program from your clients soon.The program offers employers a credit of 5% of their annual premium or $500, whichever is less. The credit is for the purchase of eligible items such as:MasksGogglesGlovesGownsHand sanitizerOther COVID-19 safety related itemsEmployers can apply for the credit now on the Fund's website​. Source

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NYAIP Governing Committee Needs Public Members & Alternates

​​The New York Automobile Insurance Plan​ has asked state insurance producer trade organizations to distribute the following message:Dear Producers, Section 4 of the New York Automobile Insurance Plan (NYAIP) manual provides for the Department of Financial Services to appoint 2 public members and at least 4 public member alternates to the Governing Committee of the NYAIP. The Superintendent also recommends eight public members who are subject to a majority of votes cast by Plan subscribers at the annual meeting. At the request of the Department of Financial Services, the NYAIP is soliciting producer trade organizations for qualified producers (at least five years of work experience) who are…

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