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Senate Bill S7337A

2011-2012 Legislative Session

Relates to limits on certain supplementary insurance

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Archive: Last Bill Status - In Senate Committee Insurance Committee

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Bill Amendments

co-Sponsors

2011-S7337 - Details

See Assembly Version of this Bill:
A10390
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3420, Ins L

2011-S7337 - Summary

Relates to limits on certain supplementary insurance; permits insured to refuse supplementary insurance; requires certain disclaimer.

2011-S7337 - Sponsor Memo

2011-S7337 - Bill Text download pdf

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

                                  7337

                            I N  S E N A T E

                               May 2, 2012
                               ___________

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  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. Paragraph 2 of subsection (f) of section 3420 of the insur-
ance law, as separately amended by chapters 547 and 568 of the  laws  of
1997, is amended to read as follows:
  (2)  (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] IN THE SAME AMOUNT AS the bodily
injury liability insurance limits of coverage provided under such  poli-
cy[,  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 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  personal  umbrella  policy  with liability coverage
limits up to at least five hundred thousand dollars which also  provides
coverage  for  supplementary  uninsured/underinsured  motorists claims].
THE COVERAGE REQUIRED UNDER THIS PARAGRAPH IS NOT APPLICABLE WHEN, OR TO

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

co-Sponsors

2011-S7337A (ACTIVE) - Details

See Assembly Version of this Bill:
A10390
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3420, Ins L

2011-S7337A (ACTIVE) - Summary

Relates to limits on certain supplementary insurance; permits insured to refuse supplementary insurance; requires certain disclaimer.

2011-S7337A (ACTIVE) - Sponsor Memo

2011-S7337A (ACTIVE) - Bill Text download pdf

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

                                 7337--A

                            I N  S E N A T E

                               May 2, 2012
                               ___________

Introduced  by  Sens. SEWARD, ADDABBO, AVELLA, DILAN, ESPAILLAT, KRUEGER
  -- read twice and ordered printed, and when printed to be committed to
  the Committee on Insurance  --  committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

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. Paragraph 2 of subsection (f) of section 3420 of the insur-
ance  law,  as separately amended by chapters 547 and 568 of the laws of
1997, is amended to read as follows:
  (2) (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] IN THE SAME  AMOUNT  AS  the  bodily
injury  liability insurance limits of coverage provided under such poli-
cy[, 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 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  personal  umbrella  policy  with  liability  coverage
limits  up to at least five hundred thousand dollars which also provides

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

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