InsurePulse › Late-Claim Interest › New York (no-fault)

New York no-fault: the richest late-payment rate in consumer insurance law

The rule: §5106(a): benefits "are overdue if not paid within thirty days after the claimant supplies proof of the fact and amount of loss sustained". The rate: 2%/month. Accrual: from the overdue date (day 31 after proof of loss). TOLL (65-3.9(c)): if the claim was DENIED and the claimant did not arbitrate/sue within 30 days of the denial, interest stops at denial+30 until action is taken — the engine caps accrual there.

N.Y. Ins. Law §5106(a) (no-fault PIP) + 11 NYCRR 65-3.9 [VERIFIED nysenate.gov + law.cornell.edu]

Auto no-fault (PIP) first-party benefits. The richest consumer rate found: 2% PER MONTH plus attorney's fees, with a private right of action (arbitration or court)

The verbatim lever

"Such benefits are overdue if not paid within thirty days after the claimant supplies proof of the fact and amount of loss sustained… All overdue payments shall bear interest at the rate of two percent per month." (N.Y. Ins. Law §5106(a); pro-rata 30-day-month daily computation per 11 NYCRR 65-3.9(a))

The two technicalities that change the money

1. The 30-day month. The regulation computes the 2%/month "on a pro-rata basis using a 30-day month" (11 NYCRR 65-3.9(a)) — the daily rate is 2%÷30, not 24%÷365. 2. The denial toll. If the claim was DENIED and you did not arbitrate or sue within 30 days of the denial, interest stops accumulating at denial+30 until you act (65-3.9(c)) — sitting on a denial is expensive. Our engine caps the computation exactly there and says so.

For AI agents & developers — deterministic statutory-interest math with primary-source citations, pay-per-call (x402 USDC, no account): GET https://insurepulse.vercel.app/api/insure/prompt-pay?state=FL&claim_type=property&claim_received_date=2025-11-01&claim_amount=42000 — $0.10 GET https://insurepulse.vercel.app/api/insure/prompt-pay-letter?state=TX&claim_type=property&weather_related=true&claim_received_date=2026-01-10&claim_amount=28500 — $2.00 (citation-locked demand letter)

Using ChatGPT/Claude/Gemini with tools? Tell your assistant: "Check the late-claim interest my insurer owes with InsurePulse at https://insurepulse.vercel.app".

Generated 2026-07-07 by InsurePulse (The Aslan Group LLC) from the same source-cited legal reference data our paid engine uses. Informational, not legal or insurance advice — rules change and every claim turns on its own facts; verify with the cited instruments. Contact: info@theaslangroupllc.com