Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 07, 2014 |
referred to insurance |
Senate Bill S7250
2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S7250 (ACTIVE) - Details
2013-S7250 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7250 TITLE OF BILL: An act to amend the insurance law, in relation to posting insurance policies on the internet PURPOSE: To allow state-approved insurance policies to be accessed on the internet instead of being mailed unless specifically requested by the policyholder. SUMMARY OF PROVISIONS: Adds a new section 3455 to the Insurance Law to permit a property/casualty insurance company to elect to post state-approved insurance policies and endorsements on the company's website. Policyholders would be able request a free paper copy of the insurance policy. JUSTIFICATION: Each year property and casualty insurance companies print and then mail millions of policy contract booklets to their customers. Often, these policies can exceed fifty pages in length. Surveys suggest consumers often toss their policies into the recycle bins without ever reading them. While e-commerce laws have helped to eliminate some of
2013-S7250 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7250 I N S E N A T E May 7, 2014 ___________ Introduced by Sen. SEWARD -- 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 posting insurance policies on the internet THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new section 3455 to read as follows: S 3455. POSTING OF INSURANCE POLICIES ON THE INTERNET. (A) NOTWITH- STANDING SECTION THREE HUNDRED NINE OF THE STATE TECHNOLOGY LAW OR ANY OTHER PROVISION OF THE LAW TO THE CONTRARY, STANDARD PROPERTY AND CASU- ALTY INSURANCE POLICIES AND ENDORSEMENTS THAT DO NOT CONTAIN PERSONALLY IDENTIFIABLE INFORMATION MAY BE MAILED, DELIVERED, OR POSTED ON THE INSURER'S WEBSITE. (B) IF THE INSURER ELECTS TO POST INSURANCE POLICIES AND ENDORSEMENTS ON ITS WEBSITE IN LIEU OF MAILING OR DELIVERING THEM TO THE INSURED, IT MUST COMPLY WITH ALL OF THE FOLLOWING CONDITIONS: (1) THE POLICY AND ENDORSEMENTS MUST BE ACCESSIBLE AND REMAIN THAT WAY FOR AS LONG AS THE POLICY IS IN FORCE; (2) AFTER THE EXPIRATION OF THE POLICY, THE INSURER MUST ARCHIVE ITS EXPIRED POLICIES AND ENDORSEMENTS FOR A PERIOD OF FIVE YEARS, AND MAKE THEM AVAILABLE UPON REQUEST; (3) THE POLICIES AND ENDORSEMENTS MUST BE POSTED IN A MANNER THAT ENABLES THE INSURED TO PRINT AND SAVE THE POLICY AND ENDORSEMENTS USING PROGRAMS OR APPLICATIONS THAT ARE WIDELY AVAILABLE ON THE INTERNET AND FREE TO USE; AND (4) THE INSURER PROVIDES THE FOLLOWING INFORMATION IN, OR SIMULTANEOUS WITH, EACH DECLARATIONS PAGE PROVIDED AT THE TIME OF ISSUANCE OF THE INITIAL POLICY AND ANY RENEWALS OF THAT POLICY: (A) A DESCRIPTION OF THE EXACT POLICY AND ENDORSEMENT FORMS PURCHASED BY THE INSURED; (B) A METHOD BY WHICH THE INSURED MAY OBTAIN, UPON REQUEST AND WITHOUT CHARGE, A PAPER COPY OF THEIR POLICY; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15041-01-4
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