2016 New York Certificate Changes
Recently, New York has enacted legislation limiting the types of insurance certificates New York public agencies and private entities can request. This legislation also restricts what may be written on the certificate in the description box as the certificate of insurance is designed to be “Proof of Insurance” only.
A licensed insurance agent or broker may not complete a certificate that effectively amends, expands, or otherwise alters the terms of the applicable insurance policy. A certificate of insurance cannot confer new or additional rights beyond those set forth in the referenced insurance policy (See N.Y. Insurance Law §2307(b)). Additionally, the law reads; “An insurance agent may not issue a certificate of insurance that lists the names of specific additional insureds when the policy referenced provides automatic coverage for additional insureds through a blanket or automatic additional insured endorsement, correspondingly, an entity may not require the insurance agent to list the names of specific additional insureds on the certificate of insurance in such a situation”.
In order to comply with New York State Law, we must amend the way we issue certificates. We will no longer name or list additional insureds on the certificate unless they have been added to your policy by endorsement; fees will apply per designated entity, policy line and policy year.
Below is an example of how you will see the certificate issued when additional insured language is requested (the below will vary depending on your coverage):
The above listed policies include 30-day notice of cancellation & waiver of subrogation. Blanket additional insured applies to the general liability, auto and umbrella policies. General Liability is primary non-contributory. See the attached endorsement package.
If you have additional questions about the law, please follow the links below:
http://www.dfs.ny.gov/insurance/ogco2011/rg110108.htm
http://www.iiabny.org/Members/MAC/CertificatesInsurance/Helpful/CertificatesLaw_FactSheet.pdf
http://www.iiabny.org/newsfeed/Lists/Posts/Post.aspx?ID=419
If you have any questions, please do not hesitate to call our office at 585-385-0428
Terms of Use: Any request for changes to any policy will be processed during normal working hours. Policy changes will not take effect until client has received confirmation from Poole Professional that the change has been made. Clients accept these terms when using this service option.
Should you have an urgent request, please contact your Poole Professional Associate via phone.