insurance broker requests new policy # prior to termination

[Daniel Bryant]

Good evening, I own a commercial property in NYC and recently sent a cancelation request to my insurance broker since I found a more affordable agent/plan.

He replied by asking me to sign a termination notice (understandable) but also requested that I furnish him with my new insurance name and policy number. Is that something I’m supposed to give him by law? Or can I chose to not give him that info?

Thank you 

[Jason Bott]

@Daniel Bryant this is standard practice in the industry.  If the old insurance carrier does not have proof of the replacement policy, they are obligated by law to continue to cover the property for the next 30-60 days.    This obligation allows them to continue to charge you premium for this timeframe.