|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 27, 2014||referred to insurance|
delivered to assembly
|Mar 12, 2014||advanced to third reading|
|Mar 11, 2014||2nd report cal.|
|Mar 10, 2014||1st report cal.242|
|Mar 03, 2014||referred to insurance|
senate Bill S6706
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6706 - Details
- Current Committee:
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§5412, 2328, 2329, 3425, 2305, 2342, 2344 & 6302, Ins L
S6706 - Summary
Relates to extending the effectiveness of certain provisions relating to automobile and property/casualty insurance rates.
S6706 - Sponsor Memo
BILL NUMBER:S6706 TITLE OF BILL: An act to amend the insurance law, in relation to extending the effectiveness of certain provisions relating to automobile and property/casualty insurance rates PURPOSE: To extend several important provisions of the Insurance Law that promote the stability of the property/casualty insurance market. SUMMARY OF PROVISIONS: Section one of the bill would extend until June 30, 2017 provisions which allow the New York Property Insurance Underwriting Association to write certain coverage upon a determination by the Superintendent of Insurance that coverage is unavailable in a particular market. Section two would extend sections 2328 and 2329 of the Insurance Law dealing with commercial motor vehicle insurance rates to June 30, 2017. Sections three and four would extend for three years provisions of section 3425 of the Insurance Law dealing with non-renewal requirements for automobile insurance.
S6706 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6706 I N S E N A T E March 3, 2014 ___________ Introduced by Sen. SEWARD -- 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 extending the effec- tiveness of certain provisions relating to automobile and property/casualty insurance rates THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (g) of section 5412 of the insurance law, as amended by chapter 102 of the laws of 2011, is amended to read as follows: (g) The provisions of this section shall cease to be of any force or effect on or after June thirtieth, two thousand [fourteen] SEVENTEEN, except that policies issued or other obligations incurred by the associ- ation shall not be impaired by the expiration of this section and the association shall continue for the purpose of servicing such policies and performing such obligations. S 2. Sections 2328 and 2329 of the insurance law, as amended by chap- ter 102 of the laws of 2011, are amended to read as follows: S 2328. Certain motor vehicle insurance rates; prior approval. For the periods February first, nineteen hundred seventy-four through August second, two thousand one, and the effective date of the property/casualty insurance availability act through June thirtieth, two thousand [fourteen] SEVENTEEN, no changes in rates, rating plans, rating rules and rate manuals applicable to motor vehicle insurance, including no-fault coverages under article fifty-one of this chapter, shall be made effective until approved by the superintendent, notwithstanding any inconsistent provisions of this article; provided, however, that changes in such rates, rating plans, rating rules and rate manuals may be made effective without such approval if the rates which result from such changes are no higher than the insurer's rates last approved by the superintendent. This section shall apply only to policies covering loss- es or liabilities arising out of ownership of a motor vehicle used prin- cipally for the transportation of persons for hire, including a bus or a EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14155-01-4
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