N.Y. Comp. Codes R. & Regs. tit. 11 § 229.2

Current through Register Vol. 46, No. 50, December 11, 2024

Section 229.2 - Definitions

(a)Credit reporting agency means a reporting agency that regularly engages in the practice of assembling or evaluating and maintaining, for the purpose of furnishing credit reports to third parties bearing on a person's credit worthiness, credit standing, or credit capacity, and credit account information from persons who furnish that information regularly and in the ordinary course of business.

(b)COVID-19 means the coronavirus disease 2019.

(c)Debt collection agency has the meaning set forth in General Business Law section 600.

(d)Executive Order means Executive Order 202.13, as extended.

(e)Insurer means a life insurer and an insurer that writes a property/casualty insurance policy, including an unauthorized insurer that sells insurance through a licensed excess lines broker and is subject to Insurance Law article 34.

(f)Late fee means a fee associated with an insurance premium payment that is made at a time later than the premium due date, but prior to both insurance policy or contract cancellation and the time in which an insurer may reject premium payment.

(g)Life insurer means an insurer authorized to write life insurance or annuities and an authorized fraternal benefit society.

(h)Life policyholder means the person to whom a life insurance policy, annuity contract, or fraternal benefit society certificate is issued, including a certificate holder under a group insurance policy or annuity contract.

(i)Person means an individual or business entity.

(j)Policyholder means a life policyholder or a property policyholder.

(k)Premium finance agency has the meaning set forth in Banking Law section 576(3)(a).

(l)Premium finance agreement has the meaning set forth in Banking Law section 576(3)(b).

(m)Prior regulation means the Part 229 of this Title that was in effect between March 30, 2020 and June 28, 2020.

(n)Property/casualty insurance policy means an insurance policy that provides a kind of insurance set forth in Insurance Law section 1113(a)(16), (17), (20), (21), (24), (26), or (30) or that is subject to Insurance Law section 1116 or articles 34, 53, 54, or 55 or Workers' Compensation Law section 54 or 226.

(o)Property policyholder means the individual or small business to whom a property/casualty insurance policy is issued, including a certificate holder under a group insurance policy.

(p) Small business means any business that is resident in this State, is independently owned and operated, and employs 100 or fewer individuals.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 229.2