Assembly Bill A5379

Signed By Governor
2021-2022 Legislative Session

Provides for a policy term of less than one year in certain situations

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

  • 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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2021-A5379 (ACTIVE) - Details

See Senate Version of this Bill:
S4326
Law Section:
Insurance Law
Laws Affected:
Amd §3426, Ins L

2021-A5379 (ACTIVE) - Summary

Provides for a policy term of less than one year where an insured requests such a policy from an insurer offering such a policy.

2021-A5379 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5379
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 16, 2021
                                ___________
 
 Introduced by M. of A. HUNTER -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to providing for a policy
   term of less than one year in certain situations
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subparagraphs (C) and (D) of paragraph 2 of subsection  (d)
 of  section  3426 of the insurance law, as amended by chapter 235 of the
 laws of 1989, are amended and a new subparagraph (E) is added to read as
 follows:
   (C) a new policy where the specific term is made to coincide with  the
 term of an insured's already existing policy with the same insurer, with
 any  insurer  at  the  insured's  written  request or, in the case of an
 excess liability policy, with different insurers; [or]
   (D) a group property/casualty policy or certificates, policies  issued
 pursuant  to  a safety group or mass merchandising program, or a medical
 malpractice or for-hire vehicle policy whose expiration date  is  common
 to  all  other policies issued by an insurer; in any of which events the
 first policy period may be for a period  of  less  than  one  year  with
 subsequent renewals requiring at least a one year policy period, and any
 such  policies  issued  since  the effective date of this section may be
 amended to conform to a common expiration date[.]; OR
   (E) WHERE AN INSURED REQUESTS A POLICY WITH A TERM OF  LESS  THAN  ONE
 YEAR FROM AN INSURER THAT OFFERS SUCH POLICIES.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08787-01-1

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