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LETTER PURSUANT TO AMENDED 11 N.Y.C.R.R. 229.5

LETTER PURSUANT TO AMENDED 11 N.Y.C.R.R. 229.5

To our valued clients:

We hope that this message finds you and your family safe and healthy.

These are difficult times. The New York Legislature and Department of Financial Services have been implementing emergency measures in an effort to protect insurance policyholders who have been hit with financial hardship because of the COVID-19 pandemic.  Regulations they enacted include: the waiver of late fees; the prohibition on reporting negative data to credit reporting agencies; and the repayment of late premiums over a 12-month period.

If you have been impacted by this pandemic, this means help may be available.

  • If you can demonstrate that you’re unable to make a timely premium payment due to financial hardship because of the COVID-19 pandemic, you may pay such premium over a 12-month period.
  • If your policy is financed through a premium finance agency, they must provide a grace period before canceling your policy for late payment of an installment if you can demonstrate financial hardship because of the COVID-19 pandemic. This grace period will be 60 days for a property/casualty policy; 90 days for a life insurance policy. You will be given a 12-month period to pay the missed installment, and the premium finance agency may not impose late fees or report you to any credit reporting agency or debt collector because of that installment.

You may prove hardship by submitting a written attestation to the insurance company or premium finance agency regarding your financial hardship resulting from the COVID-19 pandemic.  The full text of the relevant regulations can be read here: //www.biginy.org/nysdfs.

If you have any questions about this or your policy, don’t hesitate to contact our team. We’re proud to continue helping you protect what matters most.

Stay safe,

Mary

 

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  • Mary Graf has provided our small business with the knowledge, tools, and expertise to make informed decisions regarding our insurance investments. She is a warm and professional person who is highly motivated to do the absolute best for her clients and community.

    Brian Botticelli , Botticelli Prints Inc. Huntington, NY
  • Mary has been our insurance broker for many years. Her extensive knowledge of the companies and product offerings is critical to securing the best coverage for us. Her ability to ask the right questions, delve into the most relevant information and discern our requirements has forged a strong working relationship. Personally delightful and professionally efficient, Mary and her agency staff always provide top-shelf service!

    Fritzi Gros-Daillon , Anson Environmental Corp. Transitions USA Inc.
  • When I think of insurance, I think “Graf Agency.” I first joined our family business in 1984 and when I was introduced to Ken Graf, I soon realized why our family did business with his family.

    Over the years, Mary Graf has continued the family tradition of unmatched service, responsiveness and attention to detail. I know I can always depend on Mary to possess the knowledge, do the research and advise me on the best products for our business and my personal needs.

    The peace of mind that this provides is priceless.

    Joseph Fusaro , Green Energy Solutions AMJ Building Corp. Huntington, NY
  • As a Business Management Consultant with high-end clients who demand excellence, I only work with Mary from the Graf Agency for all my insurance needs.

    Mary’s response time, care and attention to my requests are always impeccable. Not only does she know her industry very well and provide the best packages, but she also takes the time to research the most cost-effective ways to make sure I am always offering my clients the very best!

    Evan Antonini, EHM Group, LLC Bookkeeping & Controllership Services New York, NY

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