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Assembly Bill A5740

2009-2010 Legislative Session

Prohibits the use of an insured's credit data in determining the premium to be charged

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Archive: Last Bill Status - In Assembly Committee

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2009-A5740 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง2402, Ins L
Versions Introduced in 2011-2012 Legislative Session:
A5595

2009-A5740 (ACTIVE) - Summary

Provides that the term "defined violation" shall mean the utilization by an insurer of credit information relating to a potential insured in determining the premium to be charged such insured.

2009-A5740 (ACTIVE) - Bill Text download pdf 

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

                                  5740

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 19, 2009
                               ___________

Introduced  by  M.  of  A.  HAYES,  BARRA,  CROUCH, FINCH, KOLB, RAIA --
  Multi-Sponsored by -- M. of A. BACALLES, BURLING,  GIGLIO,  McDONOUGH,
  REILICH,  SAYWARD, TOWNSEND -- read once and referred to the Committee
  on Insurance

AN ACT to amend the insurance law, in relation to prohibiting the use of
  credit information in determining premiums

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

  Section  1.  Section  2402 of the insurance law is amended by adding a
new subsection (b-1) to read as follows:
  (B-1) "DEFINED VIOLATION" SHALL ALSO MEAN THE UTILIZATION BY AN INSUR-
ER OF A POTENTIAL INSURED'S CREDIT INFORMATION IN DETERMINING THE AMOUNT
OF PREMIUM TO BE CHARGED SUCH INSURED.
  S 2. This act shall take effect on the thirtieth day  after  it  shall
have  become a law, and shall apply to all applications for insurance or
renewals of insurance made on and after such effective date.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06836-01-9

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