|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to insurance|
|Jan 09, 2013||referred to insurance|
senate Bill S367
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S367 - Details
S367 - Summary
Establishes as a distinct territory for purposes of rating private passenger nonbusiness automobile insurance policies, a certain city with a population between 19,040 and 25,000 which is geographically contiguous to a city with a population between 292,648 and 350,000; provides that the superintendent may require insurers to adjust existing or establish new territory definitions based on such review.
S367 - Sponsor Memo
BILL NUMBER:S367 TITLE OF BILL: An act to amend the insurance law, in relation to providing for a review of certain existing rating territory definitions for non-business automobile insurance policies PURPOSE: To provide for a thorough review of private passenger auto insurance rating territory definitions and rate implications of such definitions, and to authorize the Superintendent to require insurers to use adjusted or new territory definitions and rating factors. SUMMARY OF PROVISIONS: Section one would require the superintendent of the state insurance department to conduct a thorough review of rating territory definitions in Use in this state and the rate implications of such definitions for non-business private passenger automobile insurance. Based on the review, the superintendent may require insurers to adjust existing or establish new territory definitions and related rating factors. The superintendent shall first focus on the long recognized problems with the City of Lackawanna in conducting the review and requiring any insurers actions. The superintendent shall report to the legislature and governor on the conclusions of the review and any actions taken based on the findings.
S367 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 367 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. KENNEDY -- 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 providing for a review of certain existing rating territory definitions for non-business automobile insurance policies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2307 of the insurance law is amended by adding a new subsection (f) to read as follows: (F) (1) NOTWITHSTANDING ANY OTHER PROVISION OF LAW, WITH RESPECT TO NON-BUSINESS AUTOMOBILE INSURANCE POLICIES, THE SUPERINTENDENT SHALL UNDERTAKE A THOROUGH REVIEW OF RATING TERRITORY DEFINITIONS AND RATE IMPLICATIONS OF CURRENT TERRITORIAL DEFINITIONS IN USE IN THIS STATE, WITH PARTICULAR FOCUS ON CHANGING DEMOGRAPHICS, BORDERLINE ZIP CODES, TERRITORIAL GROUPINGS, AND ALTERNATIVE APPROACHES TO ACHIEVING HOMOGENE- ITY. (2) BASED ON SUCH REVIEW, THE SUPERINTENDENT MAY REQUIRE INSURERS TO ADJUST EXISTING OR ESTABLISH NEW TERRITORY DEFINITIONS AND TO USE SUCH ADJUSTED OR NEW TERRITORIES IN RELATION TO SUCH POLICIES. (3) WITH RESPECT TO SUCH REVIEW AND ANY REQUIREMENTS MADE PURSUANT TO THIS SECTION, THE SUPERINTENDENT SHALL FIRST FOCUS ON CITIES WITH A POPULATION OF MORE THAN NINETEEN THOUSAND FORTY BUT LESS THAN TWENTY-FIVE THOUSAND HAVING HAD A DECREASE IN TRAFFIC DENSITY AND ACCI- DENTS, WHICH ARE GEOGRAPHICALLY CONTIGUOUS WITH A CITY WITH A POPULATION OF MORE THAN TWO HUNDRED NINETY-TWO THOUSAND SIX HUNDRED FORTY-EIGHT BUT LESS THAN THREE HUNDRED FIFTY THOUSAND. (4) THE SUPERINTENDENT SHALL REPORT TO THE GOVERNOR AND THE LEGISLA- TURE ON SUCH REVIEW AND ACTIONS TAKEN PURSUANT TO THIS SUBSECTION. S 2. The review required by section one of this act shall be completed by July first in the year next succeeding the year in which it shall EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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