senate Bill S7299

2013-2014 Legislative Session

Relates to life, accident and health insurance; discrimination and rebating; prohibited inducements and independent sales

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 20, 2014 committed to rules
Jun 09, 2014 advanced to third reading
Jun 03, 2014 2nd report cal.
Jun 02, 2014 1st report cal.1103
May 09, 2014 referred to insurance

S7299 - Details

See Assembly Version of this Bill:
A10006
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Amd §4224, Ins L

S7299 - Summary

Relates to life, accident and health insurance; relates to discrimination and rebating; also relates to prohibited inducements and independent sales.

S7299 - Sponsor Memo

S7299 - Bill Text download pdf

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

                                  7299

                            I N  S E N A T E

                               May 9, 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  life,  accident  and
  health  insurance; discriminating and rebating; prohibited inducements
  and independent sales

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

  Section  1.  Subsection  (f)  of  section 4224 of the insurance law is
amended by adding a new paragraph 3 to read as follows:
  (3) NOTWITHSTANDING SUBSECTION (C) OF THIS SECTION, A  LICENSED  AGENT
OR  INSURANCE BROKER MAY PROVIDE THE FOLLOWING SERVICES WITHOUT CHARGING
A SERVICE FEE OR, IN THE CASE OF A  LICENSED  INSURANCE  BROKER,  FOR  A
SEPARATE SERVICE FEE PURSUANT TO A WRITTEN MEMORANDUM MADE IN ACCORDANCE
WITH  SUBSECTION (C) OF SECTION TWO THOUSAND ONE HUNDRED AND NINETEEN OF
THIS CHAPTER, IF SUCH SERVICES ARE PROVIDED IN A FAIR AND NONDISCRIMINA-
TORY MANNER AND INCIDENTAL TO A GROUP OR BLANKET POLICY OR CONTRACT SOLD
BY THE INSURANCE AGENT OR INSURANCE BROKER:
  (I) RISK ASSESSMENT, INCLUDING IDENTIFYING SOURCES OF RISK AND  DEVEL-
OPING STRATEGIES FOR ELIMINATING OR LIMITING THOSE RISKS;
  (II) INSURANCE CONSULTING SERVICES OR OTHER INSURANCE-RELATED ADVICE;
  (III) INSURANCE-RELATED REGULATORY AND LEGISLATIVE UPDATES;
  (IV)  CERTAIN CLAIMS ASSISTANCE SERVICES (INCLUDING THE PREPARATION OF
CLAIMS FORMS), BUT EXCLUDING ADJUSTMENT, UNLESS THE EXCEPTIONS SET FORTH
IN SUBSECTION (G) OF SECTION TWO THOUSAND ONE HUNDRED AND  ONE  OF  THIS
CHAPTER ARE SATISFIED;
  (V)  TAX  PREPARATION  ON  BEHALF  OF AN EMPLOYER OF SCHEDULE A OF THE
INTERNAL REVENUE SERVICE FORM FIFTY-FIVE HUNDRED ANNUAL RETURN/REPORT OF
EMPLOYEE BENEFIT PLAN, WHICH REQUESTS  INFORMATION  REGARDING  INSURANCE
CONTRACT   COVERAGE,  FEES,  AND  COMMISSIONS,  INVESTMENT  AND  ANNUITY
CONTRACTS, AND WELFARE BENEFIT CONTRACTS;
  (VI) INFORMATION TO GROUP POLICY OR CONTRACT HOLDERS AND MEMBERS UNDER
GROUP INSURANCE POLICIES CURRENTLY IN PLACE, AS WELL AS FORMS NEEDED FOR
PLAN ADMINISTRATION, ENROLLMENT IN A PLAN, INSURER  WEBSITE  LINKS,  AND
ANSWERS  TO FREQUENTLY ASKED QUESTIONS RELATED TO THE INSURANCE (INCLUD-

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

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