New York State Department of Financial Services · NY
Appearance Enhancement Facilities - Wage Payment Surety Bonds
August 7, 2015
Summary
The New York State Department of Financial Services has certified the availability of surety bonds and liability insurance to meet state financial guarantee requirements for appearance enhancement businesses. This certification confirms that necessary coverage is ready for purchase, supporting the implementation of Chapter 80 of the Laws of 2015.
August 7, 2015
Hon. Cesar A. Perales Secretary of State
New York State Department of State One Commerce Plaza
99 Washington Ave
Albany, NY 12231-0001
Re:
Appearance Enhancement Facilities
Wage Payment Surety Bonds
Dear Secretary Perales:
Chapter 80 of the Laws of 2015 requires the Department of Financial Services (DFS) to certify the ready availability of bonds or liability insurance to cover the financial guarantee requirements established by the Department of State (DOS) for certain appearance enhancement businesses in New York State.
DFS has identified nine insurers, as well as numerous agents and brokers, that intend to make bond and liability insurance products available to appearance enhancement businesses in New York State. Accordingly, DFS hereby certifies the bonds and liability insurance necessary to meet the financial guarantee requirements established by DOS are readily available for purchase in New York State. This certification is subject to review as experience and additional information become available.
Please contact DFS with any questions or concerns you may have.
Sincerely,
Anthony J. Albanese
Acting Superintendent of Financial Services
Common questions
- What does "Appearance Enhancement Facilities - Wage Payment Surety Bonds" cover?
- The New York State Department of Financial Services has certified the availability of surety bonds and liability insurance to meet state financial…
- Which agency issued this update?
- This update was issued by New York State Department of Financial Services.
- When was it published?
- It was published on August 7, 2015.
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