senate Bill S6512

Relates to motorcycle insurance policies

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Sponsor

Co-Sponsors

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
view actions

actions

  • 31 / Jan / 2014
    • REFERRED TO INSURANCE

Summary

Relates to motorcycle insurance policies and requires owners' policies of liability to inform the insured that motor vehicle no-fault insurance does not apply to motorcycles and that state uninsured motorist coverage is available in the alternative.

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Bill Details

See Assembly Version of this Bill:
A3600
Versions:
S6512
Legislative Cycle:
2013-2014
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง5103, Ins L
Versions Introduced in Previous Legislative Cycles:
2011-2012: S3316A, A5381A
2009-2010: S8489

Sponsor Memo

BILL NUMBER:S6512

TITLE OF BILL: An act to amend the insurance law, in relation to motor-
cycle insurance policies

PURPOSE OR GENERAL IDEA OF BILL:

To ensure that the owners of motorcycles are aware that automobile no
fault Insurance law does not apply to motorcycles and that New York
State underinsured motorist coverage is available.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 - Provides that insurance companies provide policy language
advising motorcyclists that no fault insurance provisions for automo-
biles do not apply to motorcycles and that, as an alternative, state
under insured motorist coverage is available; and requires that motorcy-
clists who refuse state underinsured motorist coverage sign a statement
confirming they were informed of the availability of that coverage.

Section 2 - Sets the effective date.

JUSTIFICATION:

Motorcyclists currently do not have coverage for actual damages and lost
wages if they do not possess State under insured motorist coverage which
puts assets at risk and/or leaves judgments for damages unpaid.

This bill will encourage motorcyclists to obtain this insurance by
ensuring that they are aware of the potential risk in not possessing
state under insured motorist coverage and also afford protection for
individuals who seek damages which damages might otherwise not be
collected.

FISCAL IMPLICATIONS:

None to the State.

EFFECTIVE DATE:

The 120th day after it shall have become law or on such date that any
rules and regulations necessary to implement the provisions of this act
are authorized to be promulgated and shall become effective.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6512

                            I N  S E N A T E

                            January 31, 2014
                               ___________

Introduced  by  Sen. TKACZYK -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in relation to  motorcycle  insurance
  policies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 5103 of the insurance law is amended  by  adding  a
new subsection (f-1) to read as follows:
  (F-1) EVERY OWNER'S POLICY OF LIABILITY INSURANCE ISSUED ON A MOTORCY-
CLE  IN  SATISFACTION OF THE REQUIREMENTS OF ARTICLE SIX OR EIGHT OF THE
VEHICLE AND TRAFFIC LAW OR SECTION TWENTY-FOUR HUNDRED SEVEN OF SUCH LAW
SHALL INFORM THE INSURED THAT NO-FAULT INSURANCE PROVISIONS FOR  AUTOMO-
BILES OR MOTOR VEHICLES DO NOT APPLY TO MOTORCYCLES AND THAT STATE UNDE-
RINSURED  MOTORIST  COVERAGE IS AVAILABLE, AND THAT THE LACK OF NO-FAULT
INSURANCE UNDER SOME CIRCUMSTANCES CAN BE  OFFSET  BY  THE  PURCHASE  OF
STATE   UNDERINSURED   MOTORIST   COVERAGE,  SINCE  DAMAGES  MAY  EXCEED
TWENTY-FIVE THOUSAND DOLLARS, WHICH IS THE AMOUNT OF  COVERAGE  REQUIRED
BY LAW.
  S 2. This act shall take effect on the one hundred twentieth day after
it  shall  have  become  a  law; provided that any rules and regulations
necessary to implement the provisions of this act on its effective  date
are authorized and directed to be promulgated and shall become effective
on such date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07025-01-3

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