1. Home
  2. Brokers
  3. Announcements

Important reminder: New York State insurance motor vehicle reporting requirements

We would like to remind you that New York State requires insurance companies to report motor vehicle liability information within the time frames outlined below. Please note that new business notifications must be reported no later than 7 days after the effective date of the policy.

Click here to download a copy of the Policyholder notice being sent to customers beginning in November 2018.

In order to comply, we are requesting your urgent attention to report motor vehicle liability information as outlined below as soon as possible – and no later than 5 days from the policy effective date a vehicle is added to the policy for new business and reinstatement notifications (motor vehicle report change).    

Vehicles subject to this requirement include:

  • New business
  • Renewal business
  • Endorsing new vehicles
  • Deleting vehicles
  • Policy cancellations
  • Policy reinstatements

This reporting requirement applies to any vehicle, new or renewal, that is added or deleted from a policy, at any point of the policy period (not just at policy inception).

Failure to report vehicles to New York State according to reporting requirements could result in significant fines to Zurich: $500 per late reported vehicle as provided in Section 317 of the New York Insurance Law.

Requirements under the Vehicle and Traffic Law and Part 34 Motor Vehicle Liability Insurance Reporting

Articles 6 and 8 of the Vehicle and Traffic Law provide that the Commissioner of Motor Vehicles shall be notified by insurance companies of certain transactions related to motor vehicle liability insurance coverage with respect to motor vehicles registered in New York State for which an insurance ID card or insurance certificate has been issued by, or on behalf of, an insurance company.

An insurance company or servicing agent shall transmit notices required by Part 34 to the Department of Motor Vehicles (DMV) in accordance with the time frames set forth below. Notices may be submitted on a daily basis.

New and cancelled vehicle registration must be reported no later than seven days after the effective date for policies issued on or after January 2, 2001. Such time frames shall apply to all new business notices required by section 34.3(a)(2).

Enforcement

An insurance company that fails to comply with any of the provisions of the Vehicle and Traffic Law and/or the regulations from the Commissioner of Motor Vehicles shall be subject to the fines set forth in section 317 of the Insurance Law.

Roles/responsibilities and actions required

Producer

An insurance company or servicing agent shall transmit notices required by Part 34 to DMV in accordance with the time frames set forth below.  Notices may be submitted on a daily basis. 

Timely submission is required to meet reporting requirements.

Please review motor vehicle reporting procedures to help meet and comply with the seven-day reporting requirement. We ask that you report the new business information within five days of the effective date of the policy to ensure we meet the seven-day reporting requirement.

Dealer

An insurance company or servicing agent shall transmit notices required by this Part to DMV in accordance with the time frames set forth by the New York State insurance department.  Notices may be submitted on a daily basis. 

Timely submission is required to meet state insurance department requirements without subject to fine.

Please review your motor vehicle reporting procedures to ensure compliance with the seven-day reporting requirement. We ask you to report the new business information within five days of the effective date of the policy to ensure we meet the seven-day reporting requirement.

Process requirements

The following information is required in order to properly report a vehicle(s) to the state of New York:

  • Registrant/insured name and address
  • Vehicle identification number (VIN)
  • Effective date (Date the vehicle is being added/deleted for coverage purposes)
  • Policy number and policy effective dates
  • Reporting insurance company

This information will be recorded in Zurich’s databases and transmitted to the DMV record-keeping system for the state of New York.

Time frame requirements

The time frames are prescribed by the Vehicle and Traffic Law and DMV regulations. Transaction filing time frames are as follows:

Transaction type/time frame

  • New business (NBS): 7 days
  • New business (NBS) Resubmission: 21 days
  • Reinstatement (REI): 7 days
  • Reinstatement (REI) Resubmission: 14 days
  • New business (NBS) response to mandatory verification (MVF): 14 days
  • No insurance (NIS) response to mandatory verification (MVF): 14 days
  • No insurance (NIS) Resubmission: 14 days
  • Cancellation (XLC): 30 days
  • Cancellation (XLC) for hire: No less than 45 days prior
  • Cancellation (XLC) response to mandatory verification (MVF): 14 days

For more information, please contact your local Zurich underwriter or account representative.

Click here for for more information on these regulations from Westlaw.

 

The information in this publication was compiled from sources believed to be reliable for informational purposes only. All sample policies and procedures herein should serve as a guideline, which you can use to create your own policies and procedures. We trust that you will customize these samples to reflect your own operations and believe that these samples may serve as a helpful platform for this endeavor. Any and all information contained herein is not intended to constitute advice (particularly not legal advice). Accordingly, persons requiring advice should consult independent advisors when developing programs and policies. We do not guarantee the accuracy of this information or any results and further assume no liability in connection with this publication and sample policies and procedures, including any information, methods or safety suggestions contained herein. We undertake no obligation to publicly update or revise any of this information, whether to reflect new information, future developments, events or circumstances or otherwise. Moreover, Zurich reminds you that this cannot be assumed to contain every acceptable safety and compliance procedure or that additional procedures might not be appropriate under the circumstances. The subject matter of this publication is not tied to any specific insurance product nor will adopting these policies and procedures ensure coverage under any insurance policy.