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Assembly Bill A9638

2021-2022 Legislative Session

Requires a notice for renewal of certain policies be delivered at least ninety days prior to the expiration of such policy

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Archive: Last Bill Status - In Assembly Committee

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2021-A9638 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3426, Ins L
Versions Introduced in Other Legislative Sessions:
2023-2024: A3176
2025-2026: A4156

2021-A9638 (ACTIVE) - Summary

Requires a notice of a change in premium for a renewal of a commercial insurance policy shall be mailed or delivered at least ninety days in advance of the expiration date of such policy.

2021-A9638 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9638
 
                           I N  A S S E M B L Y
 
                              March 28, 2022
                                ___________
 
 Introduced by M. of A. REILLY -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to requiring a notice for
   renewal of certain policies be delivered at least ninety days prior to
   the expiration of such policy
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph 3 of subsection (e) of section 3426 of the insur-
 ance law, as amended by chapter 235 of the laws of 1989, is  amended  to
 read as follows:
   (3)  The  notice required by paragraph one of this subsection shall be
 mailed or delivered at least sixty, but not more than one hundred  twen-
 ty, days in advance of the expiration date of the policy, except that:
   (A) for an excess liability policy or a policy issued to a jumbo risk,
 the  notice  shall  be mailed or delivered at least thirty, but not more
 than one hundred twenty, days in advance of the expiration date  of  the
 policy; AND
   (B)  FOR  A  NOTICE  OF  A NEW PREMIUM QUOTE FOR A RENEWAL OF A POLICY
 SHALL BE MAILED OR DELIVERED AT LEAST NINETY  DAYS  IN  ADVANCE  OF  THE
 EXPIRATION DATE OF SUCH POLICY.
   § 2.  This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13576-01-1

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