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3443 - Workers' Compensation and Employers' Liability Insurance; Optional Policyholder Deductibles.

NY Ins L § 3443 (2019) (N/A)
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(a) claimants' rights are properly protected and claimants' benefits are paid without regard to any such deductible;

(b) appropriate premium reductions reflect the type and level of any deductible approved by the superintendent and selected by the policyholder;

(c) premium reductions for deductibles are determined before application of any experience modification, premium surcharge, or premium discount;

(d) recognition is given to policyholder characteristics, including size, financial capabilities, nature of activities, and number of employees;

(e) if the policyholder selects a deductible, the policyholder is liable to the insurer for the deductible amount in regard to benefits paid for compensable claims;

(f) the insurer pays all of the deductible amount, applicable to a compensable claim, to the person or provider entitled to benefits and then seeks reimbursement from the policyholder for the applicable deductible amount; and

(g) failure to reimburse deductible amounts by the policyholder to the insurer is treated under the policy in the same manner as nonpayment of premiums.

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