| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 05, 2022 |
referred to insurance |
| Jan 30, 2021 |
referred to insurance |
Senate Bill S3557
2021-2022 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
Actions
2021-S3557 (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §3425, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
S4969
2019-2020: S3626
2021-S3557 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3557
SPONSOR: BRESLIN
TITLE OF BILL:
An act to amend the insurance law, in relation to expanding flexibility
in the automobile insurance market for the benefit of policyholders
PURPOSE:
Expand the flexibility for auto insurance companies to non-renew auto
policies when the company has a small number of policies remaining and
such nonrenewal will not impact the market.
SUMMARY OF PROVISIONS:
Section 1 amends section 3925 (r) of the Insurance Law to allow an auto
insurer who has no more than 2,500 policies in force and intends to
non-renew all of the policies to submit a plan for the orderly non-rene-
wal of the policies.
2021-S3557 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3557
2021-2022 Regular Sessions
I N S E N A T E
January 30, 2021
___________
Introduced by Sen. BRESLIN -- 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 expanding flexibility
in the automobile insurance market for the benefit of policyholders
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (r) of section 3425 of the insurance law, as
added by chapter 136 of the laws of 2008, is amended to read as follows:
(r) An insurer that has no more than [seven] TWO THOUSAND FIVE hundred
[fifty] automobile insurance policies in-force [at last year-end] and
intends to non-renew all of the policies shall submit to the superinten-
dent a plan for the orderly nonrenewal of the policies. The proposed
plan shall not become effective without the approval of the superinten-
dent. The plan shall:
(1) describe the contemplated action;
(2) set forth the reasons for the action;
(3) describe the measures the insurer will take or has taken to mini-
mize market disruption as set forth in subsection (o) of this section;
(4) explain why the action would not be detrimental to the interests
of the people of this state; and
(5) provide any other information as the superintendent may require.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07475-01-1
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.