Senate Bill S2705

Signed By Governor
2011-2012 Legislative Session

Permits insurers to make available multiple rating programs for private passenger motor vehicle insurance within the same company

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

  • 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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Bill Amendments

co-Sponsors

2011-S2705 - Details

Law Section:
Insurance Law
Laws Affected:
Add §2352, Ins L

2011-S2705 - Summary

Permits insurers to make available multiple rating plans for private passenger motor vehicle insurance within the same company.

2011-S2705 - Sponsor Memo

2011-S2705 - Bill Text download pdf 

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

                                  2705

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 28, 2011
                               ___________

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 permitting insurers to
  make available multiple rating plans for private passenger motor vehi-
  cle insurance within the same company

  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 2352
to read as follows:
  S 2352. MULTIPLE RATING PLANS.  (A)  AN  INSURER  MAY  MAKE  AVAILABLE
MULTIPLE  RATING PLANS WITHIN THE SAME COMPANY FOR PERSONAL LINES INSUR-
ANCE IN THE VOLUNTARY MARKET, PROVIDED THAT EACH TIME A NEW RATING  PLAN
IS  DEVELOPED,  IT  SHALL APPLY ONLY TO POLICIES ISSUED ON AND AFTER THE
EFFECTIVE DATE OF THE NEW PLAN.
  (B) FOR PURPOSES OF THIS SECTION "PERSONAL LINES INSURANCE" SHALL MEAN
PROPERTY/CASUALTY INSURANCE COVERAGE SOLD TO  INDIVIDUALS  AND  FAMILIES
FOR PRIMARILY NON-COMMERCIAL PURPOSES.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08794-01-1

co-Sponsors

2011-S2705A (ACTIVE) - Details

Law Section:
Insurance Law
Laws Affected:
Add §2352, Ins L

2011-S2705A (ACTIVE) - Summary

Permits insurers to make available multiple rating plans for private passenger motor vehicle insurance within the same company.

2011-S2705A (ACTIVE) - Sponsor Memo

2011-S2705A (ACTIVE) - Bill Text download pdf 

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

                                 2705--A
    Cal. No. 89

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 28, 2011
                               ___________

Introduced by Sens. SEWARD, KLEIN -- read twice and ordered printed, and
  when printed to be committed to the Committee on Insurance -- reported
  favorably  from  said  committee,  ordered to first and second report,
  ordered to a third reading, amended and ordered  reprinted,  retaining
  its place in the order of third reading

AN ACT to amend the insurance law, in relation to permitting insurers to
  make  available  multiple  rating programs for private passenger motor
  vehicle insurance within the same company

  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 2352
to read as follows:
  S 2352. MULTIPLE RATING PROGRAMS. (A) SUBJECT TO THE  SUPERINTENDENT'S
PRIOR  APPROVAL,  AN  INSURER MAY ESTABLISH MORE THAN ONE RATING PROGRAM
WITHIN THE SAME COMPANY FOR POLICIES OF INSURANCE THAT  ARE  SUBJECT  TO
SECTION  THREE  THOUSAND  FOUR  HUNDRED  TWENTY-FIVE  OF  THIS  CHAPTER;
PROVIDED THAT:
  (1) EACH RATING PROGRAM SHALL APPLY ONLY TO POLICIES NEWLY WRITTEN  ON
OR  AFTER  THE  EFFECTIVE  DATE  OF  THE RATING PROGRAM BUT PRIOR TO THE
EFFECTIVE DATE OF ANY SUBSEQUENTLY  APPROVED  RATING  PROGRAM;  PROVIDED
HOWEVER  IF  AN  INSURER  TERMINATES  A RATING PROGRAM, THEN THE INSURER
SHALL RENEW THE POLICIES THAT WERE  SUBJECT  TO  THE  TERMINATED  RATING
PROGRAM IN A SUBSEQUENTLY APPROVED RATING PROGRAM.
  (2)  THE  PROVISIONS  OF SUBSECTION (F) OF SECTION THREE THOUSAND FOUR
HUNDRED TWENTY-FIVE AND SUBSECTION (B) OF  SECTION  TWO  THOUSAND  THREE
HUNDRED  FORTY-NINE  OF  THIS  CHAPTER  SHALL  BE APPLIED TO EACH RATING
PROGRAM SEPARATELY.
  (B) THE SUPERINTENDENT MAY PROMULGATE RULES AND REGULATIONS TO  IMPLE-
MENT THE PROVISIONS OF THIS SECTION.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law.

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

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