| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Feb 01, 2012 |
print number 3931a |
| Feb 01, 2012 |
amend and recommit to insurance |
| Jan 04, 2012 |
referred to insurance |
| Mar 10, 2011 |
referred to insurance |
Senate Bill S3931A
2011-2012 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
Actions
Bill Amendments
2011-S3931 - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §3425, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3684
2013-2014: S2975, S6274
2011-S3931 - Summary
Prohibits automobile insurers from considering an applicant's or insured's credit history, credit rating or lack of a credit history as a factor in the underwriting, rating, premiums, or the decision of issuance or renewal of any automobile insurance policy to such applicant or insured.
2011-S3931 - Sponsor Memo
BILL NUMBER:S3931
TITLE OF BILL:
An act
to amend the insurance law, in relation to prohibiting automobile
insurers from using an applicant's or insured's credit history in the
underwriting, rating or premiums for a policy of automobile insurance
PURPOSE OR GENERAL IDEA OF BILL:
Prohibits the automobile insurance companies from using an applicant's
or insured's credit history in the underwriting, rating or premiums
of automobile insurance rate.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends the insurance law by prohibiting the automobile
insurance companies from using an applicant's or insured's credit
history in the underwriting, rating or premiums of automobile
insurance rate.
Section 2 states the effective date.
JUSTIFICATION:
Automobile insurance companies currently use credit history and/or
score as a tool to determine car insurance rates/premiums, which is
irrelevant. Car insurance companies should only be able to use
driving records, such as moving violations as a means of determining
2011-S3931 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3931
2011-2012 Regular Sessions
I N S E N A T E
March 10, 2011
___________
Introduced by Sen. ADAMS -- 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 prohibiting automobile
insurers from using an applicant's or insured's credit history in the
underwriting, rating or premiums for a policy of automobile insurance
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3425 of the insurance law is amended by adding a
new subsection (s) to read as follows:
(S) NO INSURER SHALL USE AN APPLICANT'S OR INSURED'S CREDIT RATING,
CREDIT HISTORY OR LACK OF A CREDIT HISTORY AS A FACTOR IN THE UNDERWRIT-
ING OF, RATING OF, PREMIUMS FOR OR THE DECISION TO ISSUE OR RENEW A
COVERED POLICY FOR AUTOMOBILE INSURANCE TO SUCH APPLICANT OR INSURED.
S 2. This act shall take effect on the thirtieth day after it shall
have become a law and shall apply to all policies, issued, renewed,
modified or altered on or after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04319-01-1
2011-S3931A (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §3425, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3684
2013-2014: S2975, S6274
2011-S3931A (ACTIVE) - Summary
Prohibits automobile insurers from considering an applicant's or insured's credit history, credit rating or lack of a credit history as a factor in the underwriting, rating, premiums, or the decision of issuance or renewal of any automobile insurance policy to such applicant or insured.
2011-S3931A (ACTIVE) - Sponsor Memo
BILL NUMBER:S3931A
TITLE OF BILL:
An act
to amend the insurance law, in relation to prohibiting automobile
insurers from using an applicant's or insured's credit history in the
underwriting, rating or premiums for a policy of automobile insurance
PURPOSE OR GENERAL IDEA OF BILL:
Prohibits the automobile insurance companies from using an applicant's
or insured's credit history in the underwriting, rating or premiums
of automobile insurance rate.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends the insurance law by prohibiting the automobile
insurance companies from using an applicant's or insured's credit
history in the underwriting, rating or premiums of automobile
insurance rate.
Section 2 states the effective date.
JUSTIFICATION:
Automobile insurance companies currently use credit history and/or
score as a tool to determine car insurance rates/premiums, which is
irrelevant. Car insurance companies should only be able to use
driving records, such as moving violations as a means of determining
2011-S3931A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3931--A
2011-2012 Regular Sessions
I N S E N A T E
March 10, 2011
___________
Introduced by Sen. ADAMS -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance -- recommitted
to the Committee on Insurance in accordance with Senate Rule 6, sec. 8
-- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee
AN ACT to amend the insurance law, in relation to prohibiting automobile
insurers from using an applicant's or insured's credit history in the
underwriting, rating or premiums for a policy of automobile insurance
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3425 of the insurance law is amended by adding a
new subsection (t) to read as follows:
(T) NO INSURER SHALL USE AN APPLICANT'S OR INSURED'S CREDIT RATING,
CREDIT HISTORY OR LACK OF A CREDIT HISTORY AS A FACTOR IN THE UNDERWRIT-
ING OF, RATING OF, PREMIUMS FOR OR THE DECISION TO ISSUE OR RENEW A
COVERED POLICY FOR AUTOMOBILE INSURANCE TO SUCH APPLICANT OR INSURED.
S 2. This act shall take effect on the thirtieth day after it shall
have become a law and shall apply to all policies, issued, renewed,
modified or altered on or after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04319-02-1
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