Legislation

Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 2337
Private passenger automobile physical damage insurance; statistics on use of anti-theft devices and the maximum discount for all anti-the...
Insurance (ISC) CHAPTER 28, ARTICLE 23
§ 2337. Private passenger automobile physical damage insurance;
statistics on use of anti-theft devices and the maximum discount for all
anti-theft devices. (a) In accordance with procedures prescribed by the
superintendent pursuant to the provisions of subsection (a) of section
two thousand three hundred fifteen of this article, each insurer which
offers physical damage insurance subject to the provisions of section
three thousand four hundred eleven of this chapter shall maintain
statistics of the fire, theft and comprehensive insurance experience of
its insureds whose automobiles are and are not equipped with anti-theft
devices. Such statistics shall include the name, type and manufacturer
of such devices. The superintendent shall direct that insurers
appropriately modify the premium attributable to fire, theft and
comprehensive coverages for automobiles equipped with such devices, to
reflect reduced exposure to loss.

(b) The maximum discount on theft and comprehensive motor vehicle
insurance coverage for all anti-theft devices provided for in this
article shall be an appropriate discount based solely on sound actuarial
practices and limited only by sound actuarial determinations.