Ask Tim | Episode #31: Conditional Renewal Notices
In today’s episode of the Ask Tim podcast, I take a look at the requirements in New York Insurance Law Section 3426 regarding when insurance carriers have to send conditional renewal notices…
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Can an Insurer Cancel a Policy Flat if the Insured Never Pays?
Question from an IIABNY member: “I have a question regarding “Cancellation for Non-Payment of Premium”. In short, after proper notice has been given and no premium is received, can an insurer…
Think a NY Insurer Can’t Void a Policy for Misrepresentation? Think Again
New York has a reputation as a state that’s pretty friendly to consumers, so I think it’s notable that an appellate court last month voided a Homeowners’ insurance policy because the insured…
Can a Carrier Issue a Renewal and Still Non-Renew the Policy?
Question from an IIABNY member: “The carrier set up a policy for non-renewal, issued the renewal, then told us that the non-renewal will stand. They said it was a system error that…
My Insured Started a New Business Mid-Term. Can the Insurer Exclude It?
[This question came out of the Webinar presentation of my continuing education course, Can They Do That?, on August 17th] Question from an IIABNY member: “We underwrite a program for forest products…
Split the Payments on a Package, Cancel the Coverages Separately?
Question from an IIABNY member: “My question pertains to a personal lines package policy. I recently had a client renew where the homeowner’s premium is escrowed through the mortgage company, and…
Can an Insurer Non-Renew a Business That’s in Chapter 11 Bankruptcy?
Question from an IIABNY member: “We have a situation where one of our insurance companies is non-renewing a commercial middle market client due to bankruptcy/Chapter 11. One of our other…
Can an Insurer Cancel the Policy Because of a Backyard Shooting Range?
Question from an IIABNY member: “Can a carrier cancel a HO policy midterm because the insured has a shooting range out back? The carrier has been on them for 10+ years. The…
Is That Injury Covered by Workers’ Comp?
I got an interesting question yesterday that I was unable to answer. Hopefully, you’re still reading; I’ll go on. The IIABNY member who called me has a client who fell…
An Informal 4-Month Auto Rental: Does the Renter Have Coverage?
Question from IIABNY member: “We have an insured that approached us with a question– he has a NY auto policy and he’s going to California for four months, as he does…
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