Circular Letter No. 2 (2000)

January 7, 2000

Insurance policies covering taxis, livery vehicles, and other public automobile risks are covered policies subject to the cancellation and renewal provisions applicable to commercial lines insurance. Section 3426 of the Insurance Law defines the required policy period for such policies as one year from the date as of which a covered policy is renewed or first issued.

Since the year 2000 is a leap year, there have been inquiries regarding the status of policies covering risks that, under the Department of Motor Vehicles (DMV) procedures, have annual registration expiration dates of February 28. Insurers are reminded that, in accordance with the statutory one-year policy period requirement, existing insurance policies shall expire on February 29, 2000.

In addition, the DMV's Insurance Information Enforcement System includes For Hire (FH) registration classes. Insurers should be familiar with all IIES requirements on DMV's website (http://www.nydmv.state.ny.us/iies.htm). In particular, the November 24, 1999 Program Bulletin requires that all FH insurance certificates issued for FH registration classes expiring February 28, 2000 and beyond shall reflect new date/time information. New date/time information may be printed or typed over old pre-printed date/time information. If you have any questions about FH or IIES changes, please contact DMV at their IIES e-mail address ([email protected]).

Very truly yours,

____________________
Mark Presser
Assistant Deputy Superintendent
and Bureau Chief
Property Bureau