17 CRR-NY 508.3NY-CRR
17 CRR-NY 508.3
17 CRR-NY 508.3
508.3 Applications.
A carrier seeking authority to become a self-insurer must file a verified application which shall include:
(a) the name and address of the principal office of the carrier. If different, the mailing address of the carrier;
(b) a balance sheet prepared within six months of the date of the application giving detailed information concerning the financial condition of the carrier;
(c) an income statement covering at least a 12-month period immediately prior to the date of the filing of the application;
(d) a record of all personal injury or property damage claims, paid and unpaid, filed in the three-year period immediately prior to the date of the filing of the application;
(e) a record of all cargo claims paid and unpaid filed in the three-year period immediately prior to the date of the filing of the application, if applicable;
(f) a list of every insurance policy cancelled within five years prior to the date of the application with a complete explanation as to the circumstances surrounding each cancellation;
(g) the number and description of the vehicles owned or operated by the carrier;
(h) the amount and type of coverage sought to be retained by the self-insurer;
(i) an explanation of procedures to be used for settling or resolving claims, including the name, address and telephone number of the individual designated to receive claims; and
(j) a copy of a Federal Motor Carrier Safety Administration order granting permission to become a self-insurer, plus the documentary evidence upon which the order was based, if available.
17 CRR-NY 508.3
Current through December 15, 2022
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.