11 CRR-NY 25.5NY-CRR
11 CRR-NY 25.5
11 CRR-NY 25.5
25.5 Definitions.
(a) Business day means any calendar day except Sunday, or the following business holidays: New Year’s Day, Martin Luther King Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans’ Day, Thanksgiving Day and Christmas Day.
(b) Business entity means a partnership, corporation, including a not-for-profit corporation, association, or limited liability company.
(c) Insured means a person insured under the policy who is making a claim against an insurer for loss or damage to property in this State, and who is represented by a public adjuster in the adjusting of such loss.
(d) Within the second degree of consanguinity means a relationship in which one individual is another individual’s parent, grandparent, child, grandchild, sibling, or spouse thereof.
(e) Supplemental claim means a claim made to an insurer in a situation in which an insured did not retain a public adjuster when the insured made an initial claim, the insurer made a payment to the insured, and then the insured retained a public adjuster to prove the amount and extent of the loss and not the cause of the loss.
11 CRR-NY 25.5
Current through July 31, 2021
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