New York Department of Financial Services Issues a Fourth Amended Order, Extending Moratorium until January 16, 2013

January 8, 2013

On January 4, 2013, the New York Department of Financial Services (Department) issued its Fourth Amended Order, which extends by an additional ten (10) days its moratorium on the enforcement of certain insurance law provisions.

As outlined in our Client Alert of January 3, 2013, the Department issued its Third Amended Order on December 16, 2012, prohibiting the termination, cancellation or non-renewal of any covered policy, as well as suspending any automatic renewal provisions in any such policy, until January 6, 2013.

The Fourth Amended Order provides that effective January 6, 2013, another 10-day extension will be imposed, thereby providing further relief as to the application of these provisions until January 16, 2013.

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