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Assembly Bill A6913

2013-2014 Legislative Session

Limits an insurer's reduction of coverage by limiting the volume of notices of intention to four percent, establishes standards for definitions; repealer

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Archive: Last Bill Status - In Assembly Committee

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2013-A6913 (ACTIVE) - Details

See Senate Version of this Bill:
S5034
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Rpld §5412 sub§ (g), amd §3425, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2760, S7879
2011-2012: A1613, S2681

2013-A6913 (ACTIVE) - Summary

Limits the scope of an insurer's reduction of coverage by limiting the volume of notices of intention to not renew or condition renewal to four percent of the total number of covered policies within such insurer's rating territory in this state.

2013-A6913 (ACTIVE) - Bill Text download pdf 

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

                                  6913

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             April 24, 2013
                               ___________

Introduced by M. of A. SWEENEY, WEISENBERG, ENGLEBRIGHT, BRENNAN, ROBIN-
  SON,  THIELE, TITUS -- Multi-Sponsored by -- M. of A. BOYLAND, MAGNAR-
  ELLI, MARKEY, MILLMAN, MORELLE, PERRY -- read once and referred to the
  Committee on Insurance

AN ACT to amend the insurance law, in relation to limiting the scope  of
  an insurer's reduction of insurance coverage by limiting the volume of
  notices of intention to not renew or condition renewal to four percent
  of  the  total  number  of  covered  policies of such insurer's rating
  territory; and in relation to establishing standards  for  definitions
  contained  within  such  law;  and to repeal certain provisions of the
  insurance law relating thereto

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

  Section  1.  Subparagraph  (C)  of  paragraph  2  of subsection (o) of
section 3425 of the insurance law, as added by chapter 42 of the laws of
1996, is amended to read as follows:
  (C) The superintendent  shall  promulgate  rules  and  regulations  to
establish  standards for the definition of "materially reduce its volume
of policies" as used in this paragraph. Such  definition  shall  require
that  a  plan  be  filed with the superintendent if the insurer plans to
reduce the net number of homeowners insurance  policies  as  defined  in
subsection (a) of section twenty-three hundred fifty-one of this chapter
WITHIN ANY SUCH INSURER'S RATING TERRITORY IN USE IN THIS STATE by twen-
ty  percent  or more, or plans to reduce the net number of such policies
it writes by five hundred, whichever is  greater,  within  a  five  year
period  of  time; provided, however, that if an insurer is not otherwise
required to file a plan pursuant to this subparagraph, a plan  shall  be
filed  if the insurer plans to reduce the net number of such policies it
has in force in a twelve month period WITHIN ANY SUCH  INSURER'S  RATING
TERRITORY IN USE IN THIS STATE by four percent or more or the net number
of such policies it writes by one hundred, whichever is greater.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03790-01-3

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