Assembly Bill A8500

Signed By Governor
2023-2024 Legislative Session

Relates to verification of an applicant's New York State driving history when used as a rating or underwriting factor for private passenger motor vehicle insurance

download bill text pdf

Sponsored By

Current 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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2023-A8500 (ACTIVE) - Details

See Senate Version of this Bill:
S8018
Law Section:
Insurance Law
Laws Affected:
Amd §2327, Ins L; amd §2, Chap of 2023 (as proposed in S.5764-B & A.4668-B)

2023-A8500 (ACTIVE) - Summary

Limits third party verification of an applicant's driving history when used as a rating or underwriting factor for private passenger motor vehicle insurance to such applicant's New York State driving history; limits application to policies issued on and after the effective date.

2023-A8500 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8500
 
                           I N  A S S E M B L Y
 
                              January 4, 2024
                                ___________
 
 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
   on Insurance
 
 AN  ACT  to  amend  the  insurance law and a chapter of the laws of 2023
   amending the insurance law relating to  using  driving  history  as  a
   rating  or  underwriting  factor  for  private passenger motor vehicle
   insurance, as proposed in legislative bills numbers S. 5764-B  and  A.
   4668-B, in relation to using driving history as a rating or underwrit-
   ing factor for private passenger motor vehicle insurance
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 2327 of the insurance law, as added by a chapter of
 the laws of 2023 amending the insurance law relating  to  using  driving
 history  as  a rating or underwriting factor for private passenger motor
 vehicle insurance, as proposed in legislative bills  numbers  S.  5764-B
 and A. 4668-B, is amended to read as follows:
   §  2327.  Verification  of driving history. No insurer who utilizes an
 applicant's NEW YORK STATE driving history as a rating  or  underwriting
 factor for private passenger motor vehicle insurance in this state shall
 bind  a  policy  of  insurance,  or [accept] PROCESS a percentage of the
 annual premium due for a policy,  without  first  making  a  good  faith
 effort  to  verify  said  applicant's NEW YORK STATE driving history, as
 well as the NEW YORK STATE driving history of all named drivers that are
 used to rate the policy and are listed by the applicant on  the  private
 passenger  motor  vehicle  insurance  application,  through the use of a
 third-party database. An insurer also shall verify, through a third-par-
 ty database, the NEW YORK STATE driving history of a named  driver  used
 to rate the policy when added during the policy period [and shall verify
 the  driving  history  of  all drivers used to rate the policy at policy
 renewal], unless the NEW YORK STATE driving history  is  unavailable  at
 the  time  of  the  initial  inquiry  due to a temporary website outage,
 service interruption or other circumstances beyond the  control  of  the
 insurer, producer or third-party representative.
   § 2. Section 2 of a chapter of the laws of 2023 amending the insurance
 law relating to using driving history as a rating or underwriting factor
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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