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Assembly Bill A10115

2013-2014 Legislative Session

Relates to the creation of a study of the minimum coverage amounts for non-commercial auto insurance

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2013-A10115 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Vehicle and Traffic
Versions Introduced in Other Legislative Sessions:
2015-2016: A2578
2017-2018: A3787
2019-2020: A251, A8130
2021-2022: A2618
2023-2024: A2577
2025-2026: A3106

2013-A10115 (ACTIVE) - Summary

Relates to the creation of a study of the minimum coverage amounts for non-commercial auto insurance.

2013-A10115 (ACTIVE) - Bill Text download pdf 

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

                                  10115

                          I N  A S S E M B L Y

                              June 15, 2014
                               ___________

Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Brennan) --
  read once and referred to the Committee on Insurance

AN ACT relating to the creation of  a  study  of  the  minimum  coverage
  amounts for non-commercial auto insurance

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

  Section 1. The department of financial services shall conduct a  study
of  the  minimum  coverage  amounts for liability and uninsured motorist
coverage currently required under article 3 of the vehicle  and  traffic
law  for  non-commercial  auto  insurance in New York state, the minimum
amount of no-fault coverage required by article fifty-one of the  insur-
ance  law, and additional coverage options, including but not limited to
comprehensive, collision, and supplemental uninsured/underinsured motor-
ist coverage.  In conducting this study, the department  shall  consider
whether  the  current  minimum  coverage amounts are adequate to protect
consumers; whether and to what extent consumers purchase higher coverage
amounts; the impact higher coverage amounts  have  on  premiums,  claims
processing, and consumer satisfaction; and any other factors the depart-
ment  deems  relevant. The department shall consult with relevant stake-
holders, including insurance companies,  insurance  producers,  consumer
advocacy  groups,  and  any  other person or entity the department deems
necessary. The department shall issue a report of its findings  as  well
as  recommendations  as to whether the required minimum coverage amounts
for liability, uninsured  motorist  coverage,  and  no-fault  should  be
increased, the extent to which such amounts should be increased, and the
impact  this  would  have  on  premiums. The department shall submit its
report to the governor, the  temporary  president  of  the  senate,  the
speaker  of  the  assembly,  and  the  chairs of the senate and assembly
standing committees on insurance no later than April 15, 2015.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15599-02-4

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