Assembly Bill A2229

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

                                  2229

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2015
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Insurance

AN ACT to amend the insurance law, in  relation  to  limits  on  certain
  supplementary insurance

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

  Section 1. Subparagraph (A)  of  paragraph  2  of  subsection  (f)  of
section 3420 of the insurance law, as separately amended by chapters 547
and 568 of the laws of 1997, is amended to read as follows:
  (A)  Any  such  policy  shall[,  at  the  option of the insured,] also
provide supplementary  uninsured/underinsured  motorists  insurance  for
bodily  injury,  in  an  amount  [up  to] NO LESS THAN the bodily injury
liability insurance limits  of  coverage  provided  under  such  policy,
subject  to  a  maximum of two hundred fifty thousand dollars because of
bodily injury to or death of one person in any one accident and, subject
to such limit for one  person,  up  to  five  hundred  thousand  dollars
because  of  bodily injury to or death of two or more persons in any one
accident, or a combined single limit policy  of  five  hundred  thousand
dollars  because  of bodily injury to or death of one or more persons in
any one accident. Provided however, [an] ANY insurer issuing such  poli-
cy, in lieu of offering to the insured the coverages stated above, [may]
SHALL  provide  supplementary uninsured/underinsured motorists insurance
for bodily injury, in an amount [up to] NO LESS THAN the  bodily  injury
liability  insurance  limits  of  coverage  provided  under such policy,
subject to a maximum of one hundred thousand dollars because  of  bodily
injury  to  or  death  of one person in any one accident and, subject to
such limit for one person, up to three hundred thousand dollars  because
of bodily injury to or death of two or more persons in any one accident,
or  a  combined  single  limit  policy of three hundred thousand dollars
because of bodily injury to or death of one or more persons in  any  one
accident, if such insurer also makes available a personal umbrella poli-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05409-01-5
              

A. 2229                             2

cy  with  liability  AND  SUPPLEMENTARY UNINSURED/UNDERINSURED MOTORISTS
INSURANCE coverage limits up to at least five hundred  thousand  dollars
[which  also  provides coverage for supplementary uninsured/underinsured
motorists   claims].    Supplementary  uninsured/underinsured  motorists
insurance shall provide coverage, in any state or Canadian province,  if
the  limits  of  liability  under  all bodily injury liability bonds and
insurance policies of another motor vehicle liable for damages are in  a
lesser  amount  than  the  bodily  injury  liability insurance limits of
coverage provided by such policy.  Upon written request by  any  insured
covered  by  supplemental  uninsured/underinsured motorists insurance or
his duly authorized representative and upon disclosure by the insured of
the insured's  bodily  injury  and  supplemental  uninsured/underinsured
motorists  insurance  coverage limits, the insurer of any other owner or
operator of another motor vehicle against which a claim  has  been  made
for damages to the insured shall disclose, within forty-five days of the
request,  the  bodily  injury liability insurance limits of its coverage
provided under the policy or all bodily injury liability bonds. The time
of the insured to make any supplementary uninsured/underinsured motorist
claim, shall be tolled during the period the insurer of any other  owner
or  operator  of another motor vehicle that may be liable for damages to
the insured, fails to so disclose its coverage.  As a  condition  prece-
dent  to  the  obligation  of the insurer to pay under the supplementary
uninsured/underinsured  motorists  insurance  coverage,  the  limits  of
liability  of  all  bodily  injury liability bonds or insurance policies
applicable at the time of the accident shall be exhausted by payment  of
judgments or settlements.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law, and shall apply to insurance policies  and  contracts
issued, entered into or renewed on and after such effective date.