Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 04, 2023 | referred to insurance |
Current Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Actions
Co-Sponsors
Chris Burdick
Jo Anne Simon
Taylor Darling
David McDonough
A125 (ACTIVE) - Details
A125 (ACTIVE) - Summary
Relates to alternative forms of identification for renters insurance, including a municipal identification card, or other state or local government-issued identification card, or a notarized copy of the rental lease signed by the property owner, the property management firm and the insured.
A125 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 125 2023-2024 Regular Sessions I N A S S E M B L Y (PREFILED) January 4, 2023 ___________ Introduced by M. of A. CRUZ, BURDICK, SIMON, DARLING, McDONOUGH, GLICK, GOODELL -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to alternative forms of identification for renters insurance THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new section 3422 to read as follows: § 3422. RENTERS INSURANCE; ALTERNATIVE FORMS OF IDENTIFICATION. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER OR ANY OTHER LAW TO THE CONTRARY, EVERY INSURER ISSUING A POLICY OR CONTRACT FOR RENTERS INSURANCE, SHALL ACCEPT, IN LIEU OF A SOCIAL SECURITY NUMBER, A MUNICI- PAL IDENTIFICATION CARD, OR OTHER STATE OR LOCAL GOVERNMENT-ISSUED IDEN- TIFICATION CARD. THE INSURER MAY ALSO REQUIRE, AS PROOF OF IDENTITY, A NOTARIZED COPY OF THE RENTAL LEASE SIGNED BY THE PROPERTY OWNER, THE PROPERTY MANAGEMENT FIRM AND THE INSURED. THE PREMIUM FOR SUCH POLICY OR CONTRACT WHICH INSURES RENTERS SHALL BE BASED ON SOUND UNDERWRITING AND ACTUARIAL PRINCIPLES. INSURERS SHALL PROVIDE INSUREDS WITH THE OPTION TO PAY SUCH RENTERS INSURANCE PREMIUM IN ONE FULL PAYMENT, IN TWELVE MONTH- LY PAYMENTS, OR BY BIANNUAL PAYMENTS. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02052-01-3