S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3076
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2021
                                ___________
 
 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 amended by section 19 of part III
 of chapter 59 of the laws of 2019, 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;  and any such policy insuring against loss resulting
 from liability imposed by law for bodily injury or death suffered by any
 natural person arising out of the ownership, maintenance, and use of  an
 altered  motor  vehicle  commonly  referred  to as a "stretch limousine"
 having a seating capacity of eight or more passengers used in the  busi-
 ness  of  carrying  or  transporting  passengers for hire, shall provide
 supplementary  uninsured/underinsured  motorists  insurance  for  bodily
 injury,  in  an  amount  of  a combined single limit of one million five
 hundred thousand dollars because of bodily injury or  death  of  one  or
 more  persons  in  any  one accident. Provided however, [an] ANY insurer
 issuing any such policy, except a policy insuring against loss resulting
 from liability imposed by law for bodily injury or death suffered by any
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00342-01-1

 A. 3076                             2
 
 natural person arising out of the ownership, maintenance, and use of  an
 altered  motor  vehicle  commonly  referred  to as a "stretch limousine"
 having a seating capacity of eight or more passengers used in the  busi-
 ness  of carrying or transporting passengers for hire, in lieu of offer-
 ing 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 inju-
 ry 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
 AND  SUPPLEMENTARY  UNINSURED/UNDERINSURED  MOTORISTS INSURANCE coverage
 limits up to at least five hundred thousand dollars [which also provides
 coverage for  supplementary  uninsured/underinsured  motorists  claims].
 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 policies of anoth-
 er  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 duly authorized repre-
 sentative and upon disclosure by the insured  of  the  insured's  bodily
 injury   and  supplemental  uninsured/underinsured  motorists  insurance
 coverage limits, the insurer of any other owner or operator  of  another
 motor  vehicle  against  which  a claim has been made for damages to the
 insured shall disclose, within forty-five days of the request, the bodi-
 ly injury liability insurance limits of its coverage provided under  the
 policy  or all bodily injury liability bonds. The time of the insured to
 make any supplementary uninsured/underinsured motorist claim,  shall  be
 tolled  during  the period the insurer of any other owner or operator of
 another motor vehicle that may be liable for  damages  to  the  insured,
 fails to so disclose its coverage. As a condition precedent to the obli-
 gation    of    the    insurer    to   pay   under   the   supplementary
 uninsured/underinsured  motorists  insurance  coverage,  the  limits  of
 liability  of  all  bodily  injury liability bonds or insurance policies
 applicable at the time of the accident shall be exhausted by payment  of
 judgments or settlements.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law, and shall apply to insurance policies  and  contracts
 issued, entered into or renewed on and after such effective date.