senate Bill S6706

2013-2014 Legislative Session

Relates to extending the effectiveness of certain provisions relating to automobile and property/casualty insurance rates

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 27, 2014 referred to insurance
delivered to assembly
passed senate
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

S6706 - Details

Law Section:
Insurance Law
Laws Affected:
Amd ยงยง5412, 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

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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