senate Bill S7288

Signed By Governor
2017-2018 Legislative Session

Relates to certain supplementary insurance

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 18, 2018 signed chap.15
Apr 06, 2018 delivered to governor
Jan 29, 2018 returned to senate
passed assembly
ordered to third reading cal.617
substituted for a8933
Jan 08, 2018 referred to insurance
delivered to assembly
passed senate
ordered to third reading cal.16
Jan 05, 2018 referred to rules

S7288 (ACTIVE) - Details

See Assembly Version of this Bill:
A8933
Law Section:
Insurance Law
Laws Affected:
Amd §3420, Ins L

S7288 (ACTIVE) - Summary

Relates to the rights of the first named insured on a commercial risk insurance policy.

S7288 (ACTIVE) - Sponsor Memo

S7288 (ACTIVE) - Bill Text download pdf


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

                                  7288

                            I N  S E N A T E

                             January 5, 2018
                               ___________

Introduced  by  Sen.  SEWARD -- 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 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-a of subsection (f)  of  section  3420  of  the
insurance  law,  as added by chapter 490 of the laws of 2017, is amended
to read as follows:
  (2-a) (A) Notwithstanding paragraph two of this subsection, this para-
graph shall apply to any new insurance policy  or  contract  SUBJECT  TO
THIS SUBSECTION entered into after the effective date of this paragraph.
This  paragraph  shall not be deemed to apply to any policies originally
entered into prior to the effective date of this paragraph, but  renewed
after  the effective date of this paragraph, OR TO ANY POLICY OF COMMER-
CIAL RISK INSURANCE. Any new insurance policy or contract  entered  into
after  the  effective date of this paragraph shall, at the option of the
FIRST NAMED insured, also provide  supplementary  uninsured/underinsured
motorists  insurance for bodily injury, in an amount equal to the bodily
injury liability insurance limits of coverage provided under such  motor
vehicle  liability  insurance  policy;  provided,  however, that [any] A
FIRST named insured may exercise the choice to decline such supplementa-
ry uninsured/underinsured motorists insurance or select a  lower  amount
of  coverage  through a written waiver signed, or electronically signed,
by such insured, subject to the requirements of subparagraph (B) of this
paragraph.  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 poli-
cies  of  any  other  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] A duly
authorized representative and upon disclosure  by  the  insured  of  the
insured's  bodily  injury and supplemental uninsured/underinsured motor-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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