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Assembly Bill A8380

2013-2014 Legislative Session

Provides that no insurer shall take into consideration or include in any calculation or formula for the making of rates, the credit history of any person

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Archive: Last Bill Status - In Assembly Committee

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2013-A8380 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง2304, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2185
2011-2012: A7720

2013-A8380 (ACTIVE) - Summary

Provides that no insurer shall take into consideration or include in any calculation or formula for the making of homeowners' insurance rates, the credit history of any person, nor shall any person be denied homeowners' insurance as a result of such credit history.

2013-A8380 (ACTIVE) - Bill Text download pdf 

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

                                  8380

                          I N  A S S E M B L Y

                             January 9, 2014
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Insurance

AN ACT to amend the insurance law, in relation to prohibiting the use of
  using  credit  history  to establish homeowners' insurance rates or to
  deny homeowners' insurance coverage

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

  Section  1.  Subsection  (i)  of section 2304 of the insurance law, as
relettered by chapter 11 of the laws of 2008, is  relettered  subsection
(j) and a new subsection (i) is added to read as follows:
  (I)  IN  THE  MAKING  OF  RATES FOR HOMEOWNERS' INSURANCE POLICIES, NO
INSURER SHALL TAKE INTO CONSIDERATION OR INCLUDE IN ANY  CALCULATION  OR
FORMULA  FOR THE MAKING OF SUCH RATES, THE CREDIT HISTORY OF ANY PERSON,
NOR SHALL ANY PERSON BE DENIED HOMEOWNERS' INSURANCE AS A RESULT OF SUCH
CREDIT HISTORY. FOR PURPOSES OF  THIS  SECTION,  THE  TERM  "HOMEOWNERS'
INSURANCE" SHALL HAVE THE MEANING SET FORTH IN SUBSECTION (A) OF SECTION
TWO THOUSAND THREE HUNDRED FIFTY-ONE OF THIS ARTICLE.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
A                                                          LBD11181-01-3

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