East News
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New York Warns Insurers about Some Homeowners' Cancellations
East News • November 20, 2008
New York Department of Insurance has this advice for insurers in the Empire State: Stop canceling homeowners' policies simply because a house in unoccupied.
That announcement came in the form a ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: NYS Ins Dep Circular letter?? | Mongoose | Nov 20, 2008, 2:11 pm |
| RE: RE: NYS Ins Dep Circular letter?? | Dan | Nov 20, 2008, 1:43 pm |
| RE: RE: NYS Ins Dep Circular letter?? | Dan | Nov 20, 2008, 1:43 pm |
| RE: BOI Sham | Adirondacker | Nov 20, 2008, 1:43 pm |
| RE: NYS Ins Dep Circular letter?? | Here you go, Dan | Nov 20, 2008, 1:34 pm |
| NYS Ins Dep Circular letter?? | Dan | Nov 20, 2008, 1:22 pm |
| RE: HO Cancellations - PA | vandy | Nov 20, 2008, 1:21 pm |
| RE: HO Cancellations - PA | Ellen | Nov 20, 2008, 1:18 pm |
| HO Cancellations - PA | PA Mike | Nov 20, 2008, 1:12 pm |
| home cancellations | paul wyak | Nov 20, 2008, 1:09 pm |
| BOI Sham | InsMgmt | Nov 20, 2008, 1:06 pm |
| RE: RE: Home Cancellations re: unoccupied | Ellen | Nov 20, 2008, 12:44 pm |
| RE: Home Cancellations re: unoccupied | Dan | Nov 20, 2008, 12:40 pm |
| Home Cancellations re: unoccupied | Ellen | Nov 20, 2008, 12:24 pm |
| Back to article | ||
Subject: HO Cancellations - PA
It states that an insurer cannot cancel a policy in midterm or nonrenew EXCEPT for only a few reasons - one of which is that there has been a substantial change or increase in hazard since the policy was issued.
In Cox/State Farm, P88-6-7 (1988), it was determined that "A vacant dwelling constitutes an increased risk of loss from fire, wind, hail and snow-storms and increased liability hazard from that of an owner-occupied dwelling."
Based upon this, an insurer could cancel or nonrenew since the vacant property now makes it a substantial change or increase in hazard.
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