|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to insurance|
|Jan 09, 2013||referred to insurance|
senate Bill S531
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S531 - Details
S531 - Summary
Allows third party notification by insurance carriers in regard to long term care policies; further prohibits the inclusion of certain goods/services in the sale of insurance policies without consent and provides penalty for a violation of this prohibition.
S531 - Sponsor Memo
BILL NUMBER:S531 TITLE OF BILL: An act to amend the insurance law, in relation to third party notification by insurance carriers in certain instances in regard to long term care policies; prohibiting the inclusion of certain goods and services in the sale of certain insurance policies without the insured's informed consent, and providing a specific penalty for violation of such prohibition PURPOSE OR GENERAL IDEA OF BILL: This bill would require a long-term care insurance carrier to permit senior citizen policy holders to designate a party to which the insurer would transmit notices of premiums due and notices of cancellation. The bill would also prohibit any insurer from including any other insurance policy or product without obtaining the informed consent of the insured. Penalty for such a practice would be one thousand dollars for each violation. SUMMARY OF SPECIFIC PROVISIONS: Subsection (f) of section 3111 of the insurance law is re-lettered subsection (g) and a new subsection (f) is added to provide for third-party notification option for senior citizens.
S531 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 531 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 third party notifica- tion by insurance carriers in certain instances in regard to long term care policies; prohibiting the inclusion of certain goods and services in the sale of certain insurance policies without the insured's informed consent, and providing a specific penalty for violation of such prohibition THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (f) of section 3111 of the insurance law, as relettered by section 30 of part B of chapter 58 of the laws of 2004, is relettered subsection (g) and a new subsection (f) is added to read as follows: (F) EVERY INSURER THAT HAS IN FORCE A LONG-TERM CARE INSURANCE POLICY AS DEFINED IN SECTION ONE THOUSAND ONE HUNDRED SEVENTEEN OF THIS CHAPTER THE PREMIUMS FOR WHICH ARE PAID DIRECTLY TO THE INSURER BY THE SENIOR CITIZEN INSURED SHALL PERMIT THE INSURED TO DESIGNATE A PARTY TO WHOM THE INSURER SHALL TRANSMIT NOTICES OF NONPAYMENT OF PREMIUMS DUE OR NOTICE OF CANCELLATION FOR NONPAYMENT OF PREMIUMS, AS DETERMINED BY THE INSURER. THE SENIOR CITIZEN SHALL NOTIFY THE INSURER THAT A THIRD PARTY HAS BEEN SO DESIGNATED. SUCH NOTIFICATION SHALL BE DELIVERED TO THE INSURER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, AND SHALL BE EFFEC- TIVE NOT LATER THAN TEN BUSINESS DAYS FROM THE DATE OF RECEIPT BY THE INSURER. THE NOTIFICATION MUST CONTAIN, IN WRITING, AN ACCEPTANCE BY THE THIRD PARTY DESIGNEE TO RECEIVE SUCH NOTICES OF CANCELLATION. SHOULD THE THIRD PARTY DESIGNEE DESIRE TO TERMINATE HIS OR HER STATUS AS A THIRD PARTY DESIGNEE, SUCH DESIGNEE SHALL PROVIDE WRITTEN NOTICE TO BOTH THE INSURER AND THE SENIOR CITIZEN INSURED. SHOULD THE SENIOR CITIZEN INSURED DESIRE TO TERMINATE THE THIRD PARTY DESIGNATION, THE INSURED EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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