N.Y. Comp. Codes R. & Regs. tit. 11 § 229.1
Current through Register Vol. 46, No. 50, December 11, 2024
(a) On March 29, 2020, Governor Andrew M. Cuomo issued Executive Order 202.13, which, among other things, temporarily suspended or modified Insurance Law sections 1116, 3203, 3219, 3220, and 4510 and articles 34, 53, 54, and 55 and Workers' Compensation Law sections 54 and 226.(b) The Executive Order modified Insurance Law sections 3203 and 4510 to extend the grace period for the payment of premiums and fees to 90 days for any life policyholder facing a financial hardship as a result of the COVID-19 pandemic.(c) The Executive Order modified Insurance Law sections 3203, 3219, and 3220 to provide a life policyholder with 90 days to exercise rights or benefits under the applicable life insurance policy or annuity contract for any life policyholder who is unable to exercise rights or benefits timely as a result of the COVID-19 pandemic.(d) The Executive Order modified Insurance Law section 1116; Insurance Law articles 34, 53, 54, and 55; and Workers' Compensation Law sections 54 and 226 to impose a moratorium on an insurer, other than a life insurer, cancelling, non-renewing, or conditionally renewing any property/casualty insurance policy issued to a property/casualty policyholder for a period of 60 days, for any property/casualty policyholder facing financial hardship as a result of the COVID-19 pandemic.(e) This Part is promulgated pursuant to the Executive Order.N.Y. Comp. Codes R. & Regs. Tit. 11 § 229.1