| 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 one or both; it is not added together to make 6%. The applicable Insurance Services Office (ISO) endorsements are:
- CA 04 44 10 13, Waiver Of Transfer Of Rights Of Recovery Against Others To Us (Waiver Of Subrogation)
- CA 04 49 11 16, Primary and Noncontributory—Other Insurance Condition
Insurers that do not subscribe to ISO forms will use different endorsements. Check with the insurer to determine the appropriate endorsement numbers.
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