New York A04462 requires insurers in the assigned risk plan to review policyholder risk profiles every two years to determine eligibility for.

New York A04462 amends the insurance law to mandate that insurers participating in the assigned risk plan review the risk profiles of each assigned policyholder every two years. The purpose of this review is to determine if the policyholders are eligible for motor vehicle insurance coverage in the voluntary market. If a policyholder is found eligible, the insurer must offer them coverage in the voluntary market upon renewal. Insurers must notify policyholders of the review at least 30 days in advance and inform them of the eligibility determination within ten days of the review.

New York A04462 requires insurers in the assigned risk plan to review policyholder risk profiles every two years to determine eligibility for.

New York A04462 amends the insurance law to mandate that insurers participating in the assigned risk plan review the risk profiles of each assigned policyholder every two years. The purpose of this review is to determine if the policyholders are eligible for motor vehicle insurance coverage in the voluntary market. If a policyholder is found eligible, the insurer must offer them coverage in the voluntary market upon renewal. Insurers must notify policyholders of the review at least 30 days in advance and inform them of the eligibility determination within ten days of the review.