2023 New York Laws
ISC - Insurance
Article 34 - Insurance Contracts-Property/casualty
3443 - Workers' Compensation and Employers' Liability Insurance; Optional Policyholder Deductibles.

§  3443.  Workers'  compensation  and  employers' liability insurance;
optional policyholder  deductibles.    An  insurer  issuing  a  workers'
compensation  and  employers'  liability insurance policy, may offer, as
part of the policy  or  by  endorsement,  deductibles  optional  to  the
policyholder  for benefits payable under the policy, subject to approval
by the superintendent  and  subject  to  underwriting  by  the  insurer,
consistent with the following standards or factors:
  (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.