Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jun 20, 2018 |
referred to insurance delivered to assembly passed senate ordered to third reading cal.2045 committee discharged and committed to rules |
Jan 03, 2018 |
referred to insurance returned to senate died in assembly |
Jun 07, 2017 |
referred to insurance delivered to assembly passed senate |
Jun 05, 2017 |
ordered to third reading cal.1496 committee discharged and committed to rules |
May 09, 2017 |
referred to insurance |
Senate Bill S5970
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Assembly 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
Votes
co-Sponsors
(D) Senate District
(D) Senate District
(D, IP) Senate District
(D, IP) Senate District
2017-S5970 (ACTIVE) - Details
2017-S5970 (ACTIVE) - Summary
Grants the superintendent of financial services authority to investigate fraudulent activities, such as motor vehicle operators who drive with no insurance coverage, and those who misrepresent their principal place of residence or where their motor vehicle is principally garaged and operated; requires insurance companies and self-insurers to report incidents of insurance fraud, relating to automobile liability insurance, to the department of financial services.
2017-S5970 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5970 TITLE OF BILL : An act to amend the insurance law, in relation to insurance fraud PURPOSE : The purpose of this bill is reduce the incidence of auto insurance fraud including fraud committed by those who misrepresent where they live, operate their automobile, and garage such vehicle for insurance coverage purposes. By misrepresenting where such automobile operators truly live and operate their motor vehicle, these persons obtain inappropriate reductions in their auto insurance premium rates and such costs are shifted to other law abiding automobile owners. SUMMARY OF PROVISIONS : Section 1: Adds a new Insurance Law section 401(d) to explicitly expand the authority of the Superintendent of Financial Services, under the Insurance Fraud prevention Article, to investigate fraudulent activities with regard to motor vehicle operators who have not secured automobile insurance coverage or who misrepresent the principle place where such automobiles are garaged and operated. Section 2: Amends Insurance Law section 405(a) to authorize the Insurance Frauds Bureau to accept reports of suspected fraudulent
2017-S5970 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5970 2017-2018 Regular Sessions I N S E N A T E May 9, 2017 ___________ Introduced by Sens. KLEIN, AVELLA, CARLUCCI, SAVINO, VALESKY -- 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 insurance fraud THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 401 of the insurance law is amended by adding a new subsection (d) to read as follows: (D) THE SUPERINTENDENT SHALL HAVE AUTHORITY PURSUANT TO THIS CHAPTER TO INVESTIGATE FRAUDULENT ACTIVITIES WITH REGARD TO INDIVIDUALS THAT OPERATE MOTOR VEHICLES WITH NO INSURANCE COVERAGE, AND MOTOR VEHICLE INSUREDS WHO MISREPRESENT THE PRINCIPAL PLACE WHERE INSURED MOTOR VEHI- CLES ARE GARAGED AND OPERATED. OPERATING MOTOR VEHICLES WITHOUT PROPER INSURANCE IN VIOLATION OF ARTICLE SIX OF THE VEHICLE AND TRAFFIC LAW IS A SIGNIFICANT DANGER TO THE PUBLIC BECAUSE DRIVERS ARE UNABLE TO COMPEN- SATE INDIVIDUALS FOR PERSONAL INJURIES, DEATH AND PROPERTY DAMAGE THEY INFLICT UPON OTHERS. FURTHERMORE, MOTOR VEHICLE INSUREDS WHO MISREPRE- SENT THE PRINCIPAL PLACE WHERE SUCH VEHICLES ARE GARAGED AND OPERATED IMPROPERLY SHIFT THEIR HIGH LIABILITY EXPOSURE COSTS TO OTHER MOTOR VEHICLE INSUREDS THAT DO NOT FACE SUCH HIGH LIABILITY RISK AND INSURANCE PREMIUM COSTS. § 2. Subsection (a) of section 405 of the insurance law, as amended by section 7 of part A of chapter 62 of the laws of 2011, is amended to read as follows: (a) Any person licensed or registered pursuant to the provisions of this chapter, and any person engaged in the business of insurance or life settlement in this state who is exempted from compliance with the licensing requirements of this chapter, including the state insurance fund of this state, who has reason to believe that an insurance trans- action or life settlement act may be fraudulent, or has knowledge that a fraudulent insurance transaction or fraudulent life settlement act is EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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