On January 10, 2018, the NYS Department of Financial Services approved a Revised TIRSA rate manual. The new rates are effective as of today, April 9, 2018. The revised rate manual is essentially a restated rate manual.
Although premium rates per thousand have not changed, the manner in which we calculate certain policies has changed (e.g. cooperative leasehold policies, condominium units and certain finance transactions).
In addition, charges for certain standard endorsements increased from $25 to $50 (e.g. waiver of arbitration, environmental protection lien and residential 1-4 family).
If you have any questions regarding these changes please contact a member of... Continue reading