New York
(1) When does the limitation period start to run for insurance
contract?
The laws concerning limitation vary from state to state. For New
York, the six year limitation period will start to run from the
date of accrual of the cause of action. This will be the date on
which the insurer denies coverage.
(2) When does the limitation period start to run for
reinsurance contracts?
The six year limitation period will run from the date the
reinsurer denies coverage.
(3) Can the limitation period be suspended and/or
interrupted, and if so, how?
The parties can enter into a tolling agreement, suspending the
limitation period.
(4) Can the express terms of the insurance policy and/or
reinsurance contract have the effect of altering the start date for
the limitation period?
