Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to insurance |
Jun 18, 2017 |
referred to rules |
Senate Bill S6799
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(R, C, IP) Senate District
2017-S6799 (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §3420, Ins L
2017-S6799 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6799 TITLE OF BILL : An act to amend the insurance law, in relation to limits on certain supplementary insurance PURPOSE : The purpose of this bill is to make certain that auto insurance consumers are made aware of the benefits of supplementary uninsured/under motorists (SUM) coverage and to provide these consumers with the option of declining such coverage. SUMMARY OF PROVISIONS : Section one of the bill would provide that the amount of supplementary uninsured/underinsured motorist (SUM) coverage that insurance carriers must make available to consumers shall be equal to the bodily injury limits and removes caps related to such coverage. Additionally, this bill would provide that whenever an insured purchases or renews a motor vehicle liability policy for greater than the minimum required policy limits for bodily injury, the rejection or selection of lower SUM coverage limits must be made on a written or electronic form at the time a policy is sold or negotiated. The form to be provided to insureds shall contain information defining SUM coverage and also advise that SUM coverage shall be equal to the level of bodily injury liability coverage unless lower SUM limits are requested or rejected.
2017-S6799 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6799 2017-2018 Regular Sessions I N S E N A T E June 18, 2017 ___________ Introduced by Sen. DeFRANCISCO -- read twice and ordered printed, and when printed to be committed to the Committee on Rules 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. Paragraph 2 of subsection (f) of section 3420 of the insur- ance law, as separately amended by chapters 547 and 568 of the laws of 1997, is amended to read as follows: (2) (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] EQUAL to 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 insurer issuing such policy, in lieu of offering to the insured the coverages stated above, may provide supplementary uninsured/underinsured motorists insurance for bodily injury, in an amount up to 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 policy with liability coverage limits up to at least EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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