Assembly Bill A4115

2019-2020 Legislative Session

Relates to limits on certain supplementary insurance

download bill text pdf

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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

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2019-A4115 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3420, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8022
2011-2012: A3063
2013-2014: A3706
2015-2016: A2229
2017-2018: A798
2021-2022: A3076
2023-2024: A3521

2019-A4115 (ACTIVE) - Summary

Relates to the limits of certain supplementary insurance policies; makes the Supplemental Underinsured Motorist (SUM) Insurance limit equal to the liability limit that each insured acquires.

2019-A4115 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4115
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2019
                                ___________
 
 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.
              

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