Assembly Bill A5082

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

                                  5082

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 11, 2011
                               ___________

Introduced  by  M.  of  A. HAYES, KOLB -- Multi-Sponsored by -- M. of A.
  FINCH, MONTESANO -- read once and referred to the Committee on  Insur-
  ance

AN  ACT  to  amend  the  insurance law, in relation to limits on certain
  supplementary insurance

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

  Section  1.  Subparagraph  (A)  of  paragraph  2  of subsection (f) of
section 3420 of the insurance law, as separately amended by chapters 547
and 568 of the laws of 1997, is amended to read as follows:
  (A) Any such policy shall[,  at  the  option  of  the  insured,]  also
provide  supplementary  uninsured/underinsured  motorists  insurance for
bodily injury, in an amount up to the bodily injury liability  insurance
limits  of  coverage provided under such policy, subject to a maximum of
two hundred fifty thousand dollars because of bodily injury to or  death
of  one  person  in  any one accident and, subject to such limit for one
person, up to five hundred thousand dollars because of bodily injury  to
or  death  of  two  or  more  persons in any one accident, or a combined
single limit policy of five hundred thousand dollars because  of  bodily
injury  to or death of one or more persons in any one accident. Provided
however, an insurer issuing such policy, in  lieu  of  offering  to  the
insured  the  coverages  stated above, [may] SHALL provide supplementary
uninsured/underinsured motorists insurance  for  bodily  injury,  in  an
amount  up  to  the bodily injury liability insurance limits of coverage
provided under such policy, subject to a maximum of one hundred thousand
dollars because of bodily injury to or death of one person  in  any  one
accident  and, subject to such limit for one person, up to three hundred
thousand dollars because of bodily injury to or death  of  two  or  more
persons  in any one accident, or a combined single limit policy of three
hundred thousand dollars because of bodily injury to or death of one  or
more persons in any one accident, if such insurer also makes available a

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08734-01-1
              

A. 5082                             2

personal    umbrella    policy    with   liability   AND   SUPPLEMENTARY
UNINSURED/UNDERINSURED MOTORISTS INSURANCE  coverage  limits  up  to  at
least  five  hundred  thousand dollars [which also provides coverage for
supplementary  uninsured/underinsured  motorists claims].  Supplementary
uninsured/underinsured motorists insurance shall  provide  coverage,  in
any  state  or  Canadian  province, if the limits of liability under all
bodily injury liability bonds and insurance policies  of  another  motor
vehicle liable for damages are in a lesser amount than the bodily injury
liability  insurance  limits  of coverage provided by such policy.  Upon
written   request   by   any    insured    covered    by    supplemental
uninsured/underinsured motorists insurance or his duly authorized repre-
sentative  and  upon  disclosure  by the insured of the insured's bodily
injury  and  supplemental  uninsured/underinsured  motorists   insurance
coverage  limits,  the insurer of any other owner or operator of another
motor vehicle against which a claim has been made  for  damages  to  the
insured shall disclose, within forty-five days of the request, the bodi-
ly  injury liability insurance limits of its coverage provided under the
policy or all bodily injury liability bonds. The time of the insured  to
make  any  supplementary uninsured/underinsured motorist claim, shall be
tolled during the period the insurer of any other owner or  operator  of
another  motor  vehicle  that  may be liable for damages to the insured,
fails to so disclose its coverage.   As a  condition  precedent  to  the
obligation   of   the   insurer   to   pay   under   the   supplementary
uninsured/underinsured  motorists  insurance  coverage,  the  limits  of
liability  of  all  bodily  injury liability bonds or insurance policies
applicable at the time of the accident shall be exhausted by payment  of
judgments or settlements.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law, and shall apply to insurance policies  and  contracts
issued, entered into or renewed on and after such effective date.