Amended reporting requirements product liability insurance (See also Addendum to CL 7 (1980) and CL 22 (1979) both on this listing).

September 26, 1979 SUBJECT: INSURANCE Circular Letter No. 26 (1979) (Addendum to Circular Letters 21 and 22 (1979)) WITHDRAWN TO: ALL INSURERS AUTHORIZED TO WRITE PRODUCT LIABILITY INSURANCE IN NEW YORK STATE SUBJECT: AMENDED REPORTING REQUIREMENTS-PRODUCT LIABILITY INSURANCE Circular Letter No. 21 (1979) and Circular Letter No. 22 (1979), dated August 2, 1979, advised insurers of the requirement to submit semi-annual reports to the Superintendent of Insurance with respect to cancellations and nonrenewals of product liability insurance in addition to reports of product liability claims for the preceding six month period ending June 30, 1979. Information received by the Department has indicated that the requirement of developing data retroactive to January 1, 1979 for the six month period ending June 30, 1979 would be an extreme hardship and involve tremendous cost. Furthermore, we have been informed that insurers need additional time to complete their reports for the six month reporting periods. After due reconsideration of this matter, we are making the requirement for reporting information for the six month period ending June 30, 1979 optional on the part of the companies. The filing dates for the submission of such reports is hereby extended to October 15, 1979. In addition, the filing date for transmitting reports to this Department for subsequent six month periods shall be sixty (60) days after the end of the preceding six month reporting period. The forms for the reporting of claims, cancellations and nonrenewals which were attached to Circular Letters 21 and 22 have been revised in order to provide greater clarity and detail. Attached are copies of the amended forms which are to be completed for the six month period ending December 31, 1979. The completed forms, signed by a responsible officer of the insurer, should be mailed to: Mr. Harold I. Baida, Principal Insurance Examiner Property and Casualty Insurance Bureau State of New York Insurance Department Two World Trade Center New York, N.Y. 10047 You will be advised concerning the form of reports to be submitted for periods subsequent to December 31, 1979. Very truly yours, [SIGNATURE] ALBERT B. LEWIS Superintendent of Insurance ATTACHMENT Product Liability Claim Report Form Period ending_______________________________ 1a. Name of insurer_______________ NAIC Company Code__________ 1b. Claim file identification_______________________________________ 2a. Date of occurrence. Month_____ Day_____Year______ 2b. Date claim reported to insurer. Month_____ Day_____ Year________. 3a. Insured's Address_________________________________________. 3b. Insured's City___________State___________Zip Code_________. 3c. Insured's policy number____________Effective date__________. 4. Type of product involved in claim (description)_________________ ____________________________________________________________. 5. ISO statistical class (CSP Code) of product*__________________. 6. Date of manufacture of product. Month______Day_____ Year_____. 7. Date of sale of product. Month______Day______Year_____. 8. Claim was for BI only______PD only________BI and PD (both)_________________. 9. Severity (code) *__________________________________________________. 10. Injured person's status in the occurrence (code) *___________________. 11. State in which incident occurred_________________________________. 12a. Amount of reserve for indemnity * BI $ _______________________PD$ ________________________. 12b. Amount of indemnity paid by you, if closed* BI $ __________________ PD $ _______________Combined (if not separable) $ _________________. 12c. Other indemnity paid by or on behalf of insured, if closed*BI $ ______ PD $ __________________Combined (if not separable) $ ____________. 13a. Amount of reserve for allocated expenses * BI $ _________________PD $ ________________Check here [] if not kept separately but is included in item 12a. 13b. Amount of allocated expenses paid, if closed *BI $ ______________ PD $ _____________Combined (if not separable) $ _____________________. * See Instructions _____________________________________________ Contact person's name & Telephone No. _____________________________________________ Address _____________________________________________ Person responsible for report Reason for nonrenewal 1 2 3 4 5 6 7 8 Total B. Policies a. Product Liability b. CGL (incl. Product Liability) c. Comm'l Package(incl. Product Liability) d. Others(Incl. Product Liability) Total Footnote Each policy included in the summary is to be assigned only one of the following major reasons for nonrenewal: 1. Poor loss experience of insured - Product Liability 2. Poor loss experience of insured - Coverage other than Product Liability 3. Poor safety engineering 4. Increase in hazard of product 5. Termination of producer 6. Non-payment of premium 7. Insured's request 8. All others _____________________________________________ Contact person's name & Telephone No. _____________________________________________ Person responsible for report Product Liability Claim Report Form - Instructions Complete all items on the form. Indicate "NA" when an item is not applicable or not available. When an item calls for a dollar amount and no amount is involved enter -0- in the space after the dollar sign. Record all amounts in whole dollars only and all States by the two letter Post Office abbreviation. All fields are self explanatory except as follows: 5. If CSP Code is not known, enter classification code shown on policy. 9. Enter the two digit code describing the degree of injury and/or property damage: First digit Second Digit Bodily Injury Property Damage 0 - No injury (or legal issue) 0 - No property damage 1 - Emotional only (fright) 1 - Little or no interruption 2 - Temporary (bruise, strain, 2 - Interrupted use sprain or fracture) 3 - Permanent (loss of motion, 3 - Total replacement disfigurement or amputation) 4 - Death 10. Enter appropriate code: 1 - Employee injured in the course of employment, regardless of employer 2 - Purchaser of product 3 - User or consumer (non-purchaser) 4 - Other - specify 12a. Enter reserves on a gross basis (before deductions for reinsurance) as of the end of the report period. 12b, 12c & 13b. If claim is opened and closed during the report period, enter amount paid. 13a. Enter reserves on a gross basis (before deductions for reinsurance) as of the end of the report period. If company does not set up a separate reserve for allocated expenses but includes such reserves with the indemnity reserve figure, check box. Summary of Cancellations of Product Liability Insurance Period ending________________ Insurer________________________NAIC Company Code___________________ Number of policies cancelled _________________ Reason for cancellation Type of: 1 2 3 4 5 6 7 8 Total A. Product * a. Air conditioning equipment b. Alcoholic beverages c. Automobiles, supplies or equipment d. Building materials e. Chemical f. Coal, wood or fuel (not gas or petroleum) g. Drugs h. Electrical i. Food or Food Products(excl. Alcohol) j. Gas or Petroleum k. Heating equipment l. Medical equipment or supplies m. Optical goods n. Plumbing o. Tools and machinery p. Others (attach separate sheet) Total B. Policies a. Product Liability b. CGL (incl. Product Liability) c. Comm'l Package(incl. Product Liability) d. Others(Incl. Product Liability) Total * If policy covers two or more products enter major product, except in those cases where basis for cancellation is other than the major product. Footnote Each policy included in the summary is to be assigned only one of the following major reasons for cancellation: 1. Poor loss experience of insured - Product Liability 2. Poor loss experience of insured - Coverage other than Product Liability 3. Poor safety engineering 4. Increase in hazard of product 5. Termination of producer 6. Non-payment of premium 7. Insured's request 8. All others _____________________________________________ Contact person's name & Telephone No. _____________________________________________ Person responsible for report Summary of Nonrenewals of Product Liability Insurance Period ending_______________ Insurer______________________NAIC Company Code_________________ Number of policies nonrenewed ______________ Reason for nonrenewal Type of: 1 2 3 4 5 6 7 8 Total A. Product * a. Air conditioning equipment b. Alcoholic beverages c. Automobiles, supplies or equipment d. Building materials e. Chemical f. Coal, wood or fuel (not gas or petroleum) g. Drugs h. Electrical i. Food or Food Products(excl. Alcohol) j. Gas or Petroleum k. Heating equipment l. Medical equipment or supplies m. Optical goods n. Plumbing o. Tools and machinery p. Others (attach separate sheet) Total * If policy covers two or more products enter major product, except in those cases where basis for nonrenewal is other than the major product.