Senate Bill S3624

2019-2020 Legislative Session

Relates to life, accident and health insurance; discrimination and rebating; prohibited inducements and independent sales

download bill text pdf

Sponsored By

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

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2019-S3624 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §4224, Ins L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7299
2015-2016: S1672
2017-2018: S4546
2021-2022: S4058
2023-2024: S3555

2019-S3624 (ACTIVE) - Summary

Relates to life, accident and health insurance; relates to discrimination and rebating; also relates to prohibited inducements and independent sales.

2019-S3624 (ACTIVE) - Sponsor Memo

2019-S3624 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3624
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 11, 2019
                                ___________
 
 Introduced  by  Sens. BRESLIN, SEWARD -- 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  life,  accident  and
   health  insurance; discriminating and rebating; prohibited inducements
   and independent sales

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subsection  (f)  of  section 4224 of the insurance law is
 amended by adding a new paragraph 3 to read as follows:
   (3) NOTWITHSTANDING SUBSECTION (C) OF THIS SECTION, A  LICENSED  AGENT
 OR  INSURANCE BROKER MAY PROVIDE THE FOLLOWING SERVICES WITHOUT CHARGING
 A SERVICE FEE OR, IN THE CASE OF A  LICENSED  INSURANCE  BROKER,  FOR  A
 SEPARATE SERVICE FEE PURSUANT TO A WRITTEN MEMORANDUM MADE IN ACCORDANCE
 WITH SUBSECTION (C) OF SECTION TWO THOUSAND ONE HUNDRED NINETEEN OF THIS
 CHAPTER,  IF  SUCH SERVICES ARE PROVIDED IN A FAIR AND NONDISCRIMINATORY
 MANNER AND INCIDENTAL TO A GROUP OR BLANKET POLICY OR CONTRACT  SOLD  BY
 THE INSURANCE AGENT OR INSURANCE BROKER:
   (I)  RISK ASSESSMENT, INCLUDING IDENTIFYING SOURCES OF RISK AND DEVEL-
 OPING STRATEGIES FOR ELIMINATING OR LIMITING THOSE RISKS;
   (II) INSURANCE CONSULTING SERVICES OR OTHER INSURANCE-RELATED ADVICE;
   (III) INSURANCE-RELATED REGULATORY AND LEGISLATIVE UPDATES;
   (IV) CERTAIN CLAIMS ASSISTANCE SERVICES (INCLUDING THE PREPARATION  OF
 CLAIMS FORMS), BUT EXCLUDING ADJUSTMENT, UNLESS THE EXCEPTIONS SET FORTH
 IN  SUBSECTION (G) OF SECTION TWO THOUSAND ONE HUNDRED ONE OF THIS CHAP-
 TER ARE SATISFIED;
   (V) TAX PREPARATION ON BEHALF OF AN EMPLOYER  OF  SCHEDULE  A  OF  THE
 INTERNAL REVENUE SERVICE FORM FIFTY-FIVE HUNDRED ANNUAL RETURN/REPORT OF
 EMPLOYEE  BENEFIT  PLAN,  WHICH REQUESTS INFORMATION REGARDING INSURANCE
 CONTRACT  COVERAGE,  FEES,  AND  COMMISSIONS,  INVESTMENT  AND   ANNUITY
 CONTRACTS, AND WELFARE BENEFIT CONTRACTS;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09802-01-9
              

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