§ 311 — Definitions

§ 311. Definitions. As used in this article:\n 1. The term "superintendent" shall mean the superintendent of\nfinancial services of this state.\n 2. The term "motor vehicle" shall be defined as in section one hundred\ntwenty-five of this chapter, except that it shall also include trailers,\nsemi-trailers and tractors other than tractors used exclusively for\nagricultural purposes, and shall exclude fire and police vehicles, farm\nequipment, including self-propelled machines used exclusively in\ngrowing, harvesting or handling farm produce, tractors used exclusively\nfor agricultural purposes, or for snow plowing other than for hire, and\nself-propelled caterpillar or crawler-type equipment while being\noperated on the contract site.\n 3. The term "proof of financial security" shall mean proof of ability\nto respond in damages for liability arising out of the ownership,\nmaintenance or use of a motor vehicle as evidenced by an owner's policy\nof liability insurance, a financial security bond, a financial security\ndeposit, or qualifications as a self-insurer under section three hundred\nsixteen of this chapter or, in the case of a non-resident, under\nself-insurance provisions of the laws of the jurisdiction of such\nnon-resident. Notwithstanding any other provision of any law or\nregulation, any proof of financial security shall for any self-propelled\nmotor vehicle also provide coverage required by this article to any\nnon-commercial trailer hauled by any such motor vehicle, other than a\nmobile home. For the purposes of this article, a mobile home or\n"manufactured home" means a mobile home or manufactured home as defined\nin section one hundred twenty-two-c of this chapter.\n 4. The term "owner's policy of liability insurance" shall mean a\npolicy\n (a) Affording coverage as defined in the minimum provisions prescribed\nin a regulation which shall be promulgated by the superintendent at\nleast ninety days prior to effective date of this act. The\nsuperintendent before promulgating such regulations or any amendment\nthereof, shall consult with all insurers licensed to write automobile\nliability insurance in this state and shall not prescribe minimum\nprovisions which fail to reflect the provisions of automobile liability\ninsurance policies, other than motor vehicle liability policies as\ndefined in section three hundred forty-five of this chapter, issued\nwithin this state at the date of such regulation or amendment thereof.\nNothing contained in such regulation or in this article shall prohibit\nany insurer from affording coverage under an owner's policy of liability\ninsurance more liberal than that required by said minimum provisions.\nEvery such owner's policy of liability insurance shall provide insurance\nsubject to said regulation against loss from the liability imposed by\nlaw for damages, including damages for care and loss of services,\nbecause of bodily injury to or death of any person and injury to or\ndestruction of property arising out of the ownership, maintenance, use,\nor operation of a specific motor vehicle or motor vehicles within the\nstate of New York, or elsewhere in the United States in North America or\nthe Dominion of Canada, subject to a limit, exclusive of interest and\ncosts, with respect to each such motor vehicle except a tow truck, of\ntwenty-five thousand dollars because of bodily injuries to and fifty\nthousand dollars because of death of one person in any one accident and,\nsubject to said limit for one person, to a limit of fifty thousand\ndollars because of bodily injury to and one hundred thousand dollars\nbecause of death of two or more persons in any one accident, and to a\nlimit of ten thousand dollars because of injury to or destruction of\nproperty of others in any one accident provided, however, that such\npolicy need not be for a period coterminous with the registration period\nof the vehicle insured. The limit, exclusive of interest and costs, with\nrespect to a tow truck shall be a combined single limit of at least\nthree hundred thousand dollars because of bodily injury or death to one\nor more persons or because of injury or destruction of property of\nothers in any one accident, and to a limit of twenty-five thousand\ndollars because of damage to a vehicle in the care, custody and control\nof the insured. Any insurer authorized to issue an owner's policy of\nliability insurance as provided for in this article may, pending the\nissue of such a policy, make an agreement, to be known as a binder, or\nmay, in lieu of such a policy, issue a renewal endorsement or evidence\nof renewal of an existing policy; each of which shall be construed to\nprovide indemnity or protection in like manner and to the same extent as\nsuch a policy. The provisions of this article shall apply to such\nbinders, renewal endorsements or evidences of renewal. Every such policy\nissued insuring private passenger vehicles and every renewal policy,\nrenewal endorsement, or other evidence of renewal issued shall have\nattached thereto a rating information form which clearly specifies and\ndefines the rating classification assigned thereto, including any\napplicable merit rating plan; and\n (b) In the case of a vehicle registered in this state, a policy issued\nby (i) an insurer duly authorized to transact business in this state or\n(ii) where a vehicle is registered by a not-for-profit organization that\nis tax-exempt under section 501(c)(3) of the federal internal revenue\ncode, a risk retention group not chartered in this state but which is\nregistered with the superintendent under the federal liability risk\nretention act of 1986, comprised entirely of organizations that are\ntax-exempt under section 501(c)(3) of the federal internal revenue code\nand where the risk retention group qualifies as a charitable risk pool\nunder section 501(n) of the federal internal revenue code, provided that\nthe vehicle being registered does not have a seating capacity of more\nthan fifteen passengers, is not a limousine or luxury limousine, and\nwhere such vehicles are not solely for personal use by a director,\nofficer, authorized person, or key person, their relatives or related\nparties; or\n (c) In the case of a vehicle lawfully registered in another state, or\nin both this state and another state, (i) a policy issued by an\nauthorized insurer, or (ii) where a vehicle is registered by a\nnot-for-profit organization that is tax-exempt under section 501(c)(3)\nof the federal internal revenue code, a risk retention group not\nchartered in this state but which is registered with the superintendent\nunder the federal liability risk retention act of 1986, comprised\nentirely of organizations that are tax-exempt under section 501(c)(3) of\nthe federal internal revenue code and where the risk retention group\nqualifies as a charitable risk pool under section 501(n) of the federal\ninternal revenue code, provided that the vehicle being registered does\nnot have a seating capacity of more than fifteen passengers, is not a\nlimousine or luxury limousine, and where such vehicles are not solely\nfor personal use by a director, officer, authorized person, or key\nperson, their relatives or related parties, or (iii) a policy issued by\nan unauthorized insurer authorized to transact business in another state\nif such unauthorized insurer files with the commissioner in form to be\napproved by them a statement consenting to service of process and\ndeclaring its policies shall be deemed to be varied to comply with the\nrequirements of this article; and\n (d) The form of which has been approved by the superintendent, except\nin the case of a risk retention group not chartered in this state. No\nsuch policy shall be issued or delivered in this state until a copy of\nthe form of policy shall have been on file with the superintendent for\nat least thirty days, unless sooner approved in writing by the\nsuperintendent, nor if within said period of thirty days the\nsuperintendent shall have notified the carrier in writing that in the\nsuperintendent's opinion, specifying the reasons therefor, the form of\npolicy does not comply with the laws of this state.\n 5. The term "certificate of insurance" shall mean any evidence issued\nby or on behalf of an insurance company duly authorized to transact\nbusiness in this state, or a risk retention group authorized to issue an\nowner's policy of liability insurance pursuant to subdivision four of\nthis section, stating in such form as the commissioner may prescribe or\napprove that such company or such risk retention group has issued an\nowner's policy of liability insurance on the motor vehicle or vehicles\ndesignated therein. Such certificate shall contain information as\nrequired by the commissioner including at least the following except as\notherwise provided:\n (a) The name and address of the person to whom the policy was issued.\n (b) The number and effective period of the policy. If all of the motor\nvehicles owned by one person during a defined period are insured under\nthe same owner's policy of liability insurance the certificate of\ninsurance may so state and it shall then not be necessary to identify\nthe specific vehicle insured. The requirements of this article for an\nowner's policy of liability insurance may be fulfilled by the policies\nof one or more insurance carriers which policies together meet such\nrequirements.\n (c) As to new policies, a statement that at least ten per cent of the\nannual premium due on the policy has been paid. For the purposes of this\nparagraph a transfer of insurance from one company to another by an\nagent or broker shall not be considered the issuance of a new policy.\n 6. The term "financial security bond" shall mean for each motor\nvehicle a bond executed by the owner and by a surety company duly\nauthorized to transact business in this state. The provisions of\nsubdivision (e) of section three hundred forty-nine of this chapter\nshall apply to such bond.\n 7. The term "financial security deposit" shall mean for each motor\nvehicle the deposit with the commissioner of twenty-five thousand\ndollars in cash, or securities, such as may legally be purchased by\nsavings banks or trust funds, of a market value of twenty-five thousand\ndollars and an additional deposit in an amount determined by the\ncommissioner to be sufficient to satisfy the requirements of article\nfifty-one of the insurance law.\n 8. The term "self-insurer" shall mean a person who shall have been\ndetermined by the commissioner in accordance with section three hundred\nsixteen to be financially responsible.\n 9. The word "state" when used in this article shall unless the context\nclearly indicates otherwise, mean any state, territory or possession of\nthe United States, the District of Columbia or any province of the\nDominion of Canada.\n 10. "Insurance Identification Card" shall mean a card issued by or on\nbehalf of an insurance company or bonding company duly authorized to\ntransact business in this state, or a risk retention group authorized to\nissue an owner's policy of liability insurance pursuant to subdivision\nfour of this section, stating in such form as the commissioner may\nprescribe or approve that such company or such risk retention group has\nissued an owner's policy of liability insurance or a financial security\nbond on the motor vehicle or vehicles designated therein. Such card\nshall contain such information and shall be valid during such period as\nmay be prescribed by the commissioner. If an owner shall have filed a\nfinancial security deposit, or shall have qualified as a self-insurer\nunder section three hundred sixteen of this article, the term "insurance\nidentification card" shall mean a card issued by the department which\nevidences that such deposit has been filed or that such owner has so\nqualified.\n