Senate Bill S6834

2009-2010 Legislative Session

Relates to limiting fees charged for the issuance of a certificate of additional insureds

download bill text pdf

Sponsored By

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

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2009-S6834 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Add ยง342, Ins L

2009-S6834 (ACTIVE) - Summary

Authorizes the superintendent to limit fees charged by insurance companies for the issuance of a certificate of additional insureds.

2009-S6834 (ACTIVE) - Sponsor Memo

2009-S6834 (ACTIVE) - Bill Text download pdf 

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

                                  6834

                            I N  S E N A T E

                            February 12, 2010
                               ___________

Introduced  by  Sen. BONACIC -- 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 limiting fees  charged
  for the issuance of a certificate of additional insureds

  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 342 to
read as follows:
  S 342. FEES FOR ISSUANCE OF CERTIFICATES OF ADDITIONAL INSUREDS.   THE
SUPERINTENDENT  IS  AUTHORIZED  TO LIMIT FEES CHARGEABLE BY AN INSURANCE
COMPANY  OR  AGENTS  THEREOF  FOR  ISSUING  CERTIFICATES  OF  ADDITIONAL
INSUREDS. SUCH COSTS SHALL BE RATIONALLY RELATED TO THE COST OF CREATING
SUCH  CERTIFICATE  AND ANY SPECIAL COSTS, TO BE DETERMINED BY THE SUPER-
INTENDENT, FOR THE PARTICULAR PARTY NAMED AS THE ADDITIONAL INSURED.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15509-01-0

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