2023 New York Laws › VAT - Vehicle and Traffic › Title 3 - Safety Responsibility; Financial Security; Equipment; Inspection; Size and Weight; and Other Provisions › Article 6 - Motor Vehicle Financial Security Act › 311 - Definitions.

§ 311. Definitions. As used in this article:
1.   The  term  "superintendent"  shall  mean  the  superintendent  of
financial services of this state.
2. The term "motor vehicle" shall be defined as in section one hundred
twenty-five of this chapter, except that it shall also include trailers,
semi-trailers and tractors other  than  tractors  used  exclusively  for
agricultural  purposes, and shall exclude fire and police vehicles, farm
equipment,  including  self-propelled  machines  used   exclusively   in
growing,  harvesting or handling farm produce, tractors used exclusively
for agricultural purposes, or for snow plowing other than for hire,  and
self-propelled   caterpillar   or  crawler-type  equipment  while  being
operated on the contract site.
3. The term "proof of financial security" shall mean proof of  ability
to  respond  in  damages  for  liability  arising  out of the ownership,
maintenance or use of a motor vehicle as evidenced by an owner's  policy
of  liability insurance, a financial security bond, a financial security
deposit, or qualifications as a self-insurer under section three hundred
sixteen of this chapter  or,  in  the  case  of  a  non-resident,  under
self-insurance  provisions  of  the  laws  of  the  jurisdiction of such
non-resident.  Notwithstanding  any  other  provision  of  any  law   or
regulation, any proof of financial security shall for any self-propelled
motor  vehicle  also  provide  coverage  required by this article to any
non-commercial trailer hauled by any such motor vehicle,  other  than  a
mobile  home.  For  the  purposes  of  this  article,  a  mobile home or
"manufactured home" means a mobile home or manufactured home as  defined
in section one hundred twenty-two-c of this chapter.
4.  The  term  "owner's  policy  of  liability insurance" shall mean a
policy
(a) Affording coverage as defined in the minimum provisions prescribed
in a regulation which shall be  promulgated  by  the  superintendent  at
least   ninety   days   prior   to  effective  date  of  this  act.  The
superintendent before promulgating such  regulations  or  any  amendment
thereof,  shall  consult  with all insurers licensed to write automobile
liability insurance in  this  state  and  shall  not  prescribe  minimum
provisions  which fail to reflect the provisions of automobile liability
insurance policies, other  than  motor  vehicle  liability  policies  as
defined  in  section  three  hundred  forty-five of this chapter, issued
within this state at the date of such regulation or  amendment  thereof.
Nothing  contained  in such regulation or in this article shall prohibit
any insurer from affording coverage under an owner's policy of liability
insurance more liberal than that required by  said  minimum  provisions.
Every such owner's policy of liability insurance shall provide insurance
subject  to  said  regulation against loss from the liability imposed by
law for damages, including  damages  for  care  and  loss  of  services,
because  of  bodily  injury  to  or death of any person and injury to or
destruction of property arising out of the ownership, maintenance,  use,
or  operation  of  a specific motor vehicle or motor vehicles within the
state of New York, or elsewhere in the United States in North America or
the Dominion of Canada, subject to a limit, exclusive  of  interest  and
costs,  with  respect  to each such motor vehicle except a tow truck, of
twenty-five thousand dollars because of bodily  injuries  to  and  fifty
thousand dollars because of death of one person in any one accident and,
subject  to  said  limit  for  one  person, to a limit of fifty thousand
dollars because of bodily injury to and  one  hundred  thousand  dollars
because  of  death  of two or more persons in any one accident, and to a
limit of ten thousand dollars because of injury  to  or  destruction  of
property  of  others  in  any  one accident provided, however, that such
policy need not be for a period coterminous with the registration period

of the vehicle insured. The limit, exclusive of interest and costs, with
respect to a tow truck shall be a combined  single  limit  of  at  least
three  hundred thousand dollars because of bodily injury or death to one
or  more  persons  or  because  of  injury or destruction of property of
others in any one accident, and  to  a  limit  of  twenty-five  thousand
dollars  because of damage to a vehicle in the care, custody and control
of the insured. Any insurer authorized to issue  an  owner's  policy  of
liability  insurance  as  provided  for in this article may, pending the
issue of such a policy, make an agreement, to be known as a  binder,  or
may,  in  lieu of such a policy, issue a renewal endorsement or evidence
of renewal of an existing policy; each of which shall  be  construed  to
provide indemnity or protection in like manner and to the same extent as
such  a  policy.  The  provisions  of  this  article shall apply to such
binders, renewal endorsements or evidences of renewal. Every such policy
issued insuring private passenger vehicles  and  every  renewal  policy,
renewal  endorsement,  or  other  evidence  of renewal issued shall have
attached thereto a rating information form which clearly  specifies  and
defines  the  rating  classification  assigned  thereto,  including  any
applicable merit rating plan; and
(b) In the case of a vehicle registered in this state, a policy issued
by (i) an insurer duly authorized to transact business in this state  or
(ii) where a vehicle is registered by a not-for-profit organization that
is  tax-exempt  under  section 501(c)(3) of the federal internal revenue
code, a risk retention group not chartered in this state  but  which  is
registered  with  the  superintendent  under  the federal liability risk
retention act of 1986, comprised  entirely  of  organizations  that  are
tax-exempt  under section 501(c)(3) of the federal internal revenue code
and where the risk retention group qualifies as a charitable  risk  pool
under section 501(n) of the federal internal revenue code, provided that
the  vehicle  being  registered does not have a seating capacity of more
than fifteen passengers, is not a limousine  or  luxury  limousine,  and
where  such  vehicles  are  not  solely  for personal use by a director,
officer, authorized person, or key person, their  relatives  or  related
parties; or
(c)  In the case of a vehicle lawfully registered in another state, or
in both this state  and  another  state,  (i)  a  policy  issued  by  an
authorized  insurer,  or  (ii)  where  a  vehicle  is  registered  by  a
not-for-profit organization that is tax-exempt under  section  501(c)(3)
of  the  federal  internal  revenue  code,  a  risk  retention group not
chartered in this state but which is registered with the  superintendent
under  the  federal  liability  risk  retention  act  of 1986, comprised
entirely of organizations that are tax-exempt under section 501(c)(3) of
the federal internal revenue code and where  the  risk  retention  group
qualifies  as a charitable risk pool under section 501(n) of the federal
internal revenue code, provided that the vehicle being  registered  does
not  have  a  seating capacity of more than fifteen passengers, is not a
limousine or luxury limousine, and where such vehicles  are  not  solely
for  personal  use  by  a  director,  officer, authorized person, or key
person, their relatives or related parties, or (iii) a policy issued  by
an unauthorized insurer authorized to transact business in another state
if  such  unauthorized insurer files with the commissioner in form to be
approved by them a  statement  consenting  to  service  of  process  and
declaring  its  policies shall be deemed to be varied to comply with the
requirements of this article; and
(d) The form of which has been approved by the superintendent,  except
in  the  case  of a risk retention group not chartered in this state. No
such policy shall be issued or delivered in this state until a  copy  of
the  form  of policy shall have been on file with the superintendent for

at  least  thirty  days,  unless  sooner  approved  in  writing  by  the
superintendent,   nor   if   within  said  period  of  thirty  days  the
superintendent shall have notified the carrier in writing  that  in  the
superintendent's  opinion,  specifying the reasons therefor, the form of
policy does not comply with the laws of this state.
5.  The term "certificate of insurance" shall mean any evidence issued
by or on behalf of an insurance  company  duly  authorized  to  transact
business in this state, or a risk retention group authorized to issue an
owner's  policy  of  liability insurance pursuant to subdivision four of
this section, stating in such form as the commissioner may prescribe  or
approve  that  such  company  or such risk retention group has issued an
owner's policy of liability insurance on the motor vehicle  or  vehicles
designated  therein.  Such  certificate  shall  contain  information  as
required by the commissioner including at least the following except  as
otherwise provided:
(a) The name and address of the person to whom the policy was issued.
(b) The number and effective period of the policy. If all of the motor
vehicles  owned  by one person during a defined period are insured under
the same owner's  policy  of  liability  insurance  the  certificate  of
insurance  may  so  state and it shall then not be necessary to identify
the specific vehicle insured. The requirements of this  article  for  an
owner's  policy  of liability insurance may be fulfilled by the policies
of one or more insurance carriers  which  policies  together  meet  such
requirements.
(c)  As to new policies, a statement that at least ten per cent of the
annual premium due on the policy has been paid. For the purposes of this
paragraph a transfer of insurance from one  company  to  another  by  an
agent or broker shall not be considered the issuance of a new policy.
6.  The  term  "financial  security  bond"  shall  mean for each motor
vehicle a bond executed by the  owner  and  by  a  surety  company  duly
authorized  to  transact  business  in  this  state.  The  provisions of
subdivision (e) of section three  hundred  forty-nine  of  this  chapter
shall apply to such bond.
7.  The  term  "financial  security deposit" shall mean for each motor
vehicle the  deposit  with  the  commissioner  of  twenty-five  thousand
dollars  in  cash,  or  securities,  such as may legally be purchased by
savings banks or trust funds, of a market value of twenty-five  thousand
dollars  and  an  additional  deposit  in  an  amount  determined by the
commissioner to be sufficient to satisfy  the  requirements  of  article
fifty-one of the insurance law.
8.  The  term  "self-insurer"  shall mean a person who shall have been
determined by the commissioner in accordance with section three  hundred
sixteen to be financially responsible.
9. The word "state" when used in this article shall unless the context
clearly  indicates otherwise, mean any state, territory or possession of
the United States, the District of  Columbia  or  any  province  of  the
Dominion of Canada.
10.  "Insurance Identification Card" shall mean a card issued by or on
behalf of an insurance company or bonding  company  duly  authorized  to
transact business in this state, or a risk retention group authorized to
issue  an  owner's policy of liability insurance pursuant to subdivision
four of this section, stating in  such  form  as  the  commissioner  may
prescribe  or approve that such company or such risk retention group has
issued an owner's policy of liability insurance or a financial  security
bond  on  the  motor  vehicle  or vehicles designated therein. Such card
shall contain such information and shall be valid during such period  as
may  be  prescribed  by the commissioner. If an owner shall have filed a
financial security deposit, or shall have qualified  as  a  self-insurer

under section three hundred sixteen of this article, the term "insurance
identification  card"  shall  mean a card issued by the department which
evidences that such deposit has been filed or that  such  owner  has  so
qualified.