New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter III - Policy and Certificate Provisions › Subchapter B - Property and Casualty Insurance › Part 60 - Minimum Provisions For Automobile Liability Insurance Policies And Supplementary Uninsured Motorists Insurance › Subpart 60-4 - Peer-to-Peer Car Sharing Programs: Minimum Provisions for Group Policies and Other Requirements › Section 60-4.3 - Mandatory liability provisions

Current through Register Vol. 46, No. 28, July 10, 2024
A group policy shall contain in substance the following
						minimum provisions that are equally or more favorable to the insured and
						judgment creditors, so far as such provisions relate to judgment
						creditors:
(a) insurance 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 vehicles within this State, or
					 elsewhere in the United States in North America or Canada, subject to a limit,
					 exclusive of interest and costs, with respect to each such occurrence, of at
					 least $1,250,000 because of bodily injury to or death of one or more persons,
					 and injury to or destruction of property;
(b) with respect to such insurance as is
					 afforded, the insurer, subject to the policy terms, shall: defend any suit,
					 with the right to make such investigation, negotiation and settlement as it
					 deems expedient; pay all premiums on attachment bonds and appeal bonds; pay all
					 expenses incurred by the company, all costs taxed against the insured in any
					 such suit, and all interest accruing after entry of judgment until the insurer
					 has paid or tendered or deposited in court such part of such judgment as does
					 not exceed the applicable policy limits; pay expenses incurred by the insured
					 for first aid to others at the time of accident; and reimburse the insured for
					 reasonable expenses other than loss of earnings, incurred at the company's
					 request. The amounts so incurred under this subdivision, except settlement of
					 claims and suits, shall be payable by the company in addition to the applicable
					 policy limits;
(c) a provision
					 insuring as insured, during the peer-to-peer car sharing period:
(1) the named insured, the named insured's
					 spouse if a resident of the same household with respect to the motor vehicle or
					 vehicles;
(2) and any other person
					 using the motor vehicle with the permission of the named insured or such spouse
					 provided the person's actual operation or (if the person is not operating) the
					 person's actual use thereof is within the scope of such permission;
					 and
(3) any other person or
					 organization but only with respect to the person or organization's liability
					 because of acts or omissions of an insured within subparagraph (1) or (2) of
					 this subdivision. As respects any person or organization other than the named
					 insured the policy need not apply:
(i) to any
					 person or organization, or to any agent or employee thereof, employed or
					 otherwise engaged in operating an automobile sales agency, repair shop, service
					 station, storage garage or public parking place, with respect to any accident
					 arising out of the maintenance or use of a motor vehicle in connection
					 therewith;
(ii) to any employee
					 with respect to injury, sickness, disease or death of a fellow employee injured
					 in the course of the employee's employment in an accident arising out of the
					 maintenance or use of the motor vehicle in the business of their common
					 employer; or
(iii) to any person or
					 organization, or to any agent or employee thereof, with respect to bodily
					 injury, sickness, disease or death, or injury to or destruction of property
					 arising out of the loading or unloading of the motor vehicle. The insurance
					 shall apply separately to each insured against whom claim is made or suit is
					 brought, provided the inclusion of more than one insured shall not operate to
					 increase the limits of the insurer's liability;