§ 3431 — Immunity; insurers' reports to insureds, to applicants for insurance and to terminated agents or brokers

New York § 3431

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 34: Insurance Contracts-property/casualty

Text

§ 3431. Immunity; insurers' reports to insureds, to applicants for\ninsurance and to terminated agents or brokers. (a) In any written notice\nof:\n (1) refusal to issue,\n (2) cancellation,\n (3) reduction of limits,\n (4) substitution of policy form,\n (5) elimination of coverages,\n (6) conditioned renewal,\n (7) non-renewal, or\n (8) termination or refusal to renew a contract or account of a\nlicensed agent or broker, or in any other communication, oral or\nwritten, specifying the reasons for such action, there shall be no\nliability on the part of, and no cause of action of any nature shall\narise against any insurer, its authorized representatives, agents, or\nemployees or any licensed agent or broker for any statement made in good\nfaith by any of them or for providing information pertaining thereto or\nfor statements made or evidence submitted at any hearings in connection\ntherewith.\n (b) Subsection (a) hereof shall provide immunity with respect to all\nobligations and duties performed pursuant to sections three thousand\nfour hundred twenty-five, three thousand four hundred twenty-six, three\nthousand four hundred twenty-nine and three thousand four hundred\nthirty-three of this article.\n (c) Notwithstanding subsection (a) hereof in the case of any statement\nmade pursuant to section three thousand four hundred twenty-six of this\narticle, there shall be no liability unless the statement is shown to\nhave been in bad faith and with malice in fact.\n