Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 31, 2012 |
referred to insurance |
Senate Bill S6352
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
- 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
Actions
2011-S6352 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9113
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd ยง3420, Ins L
2011-S6352 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6352 PURPOSE: Provides that insurance companies must obtain written consent of the insured prior to waiving motorist's supplementary insurance coverage. SUMMARY OF PROVISIONS: Section 1 of the bill amends subparagraph (A) of paragraph 2 of subsection (f) of section 3420 of the insurance law to provide that, if the insured declines supplementary uninsured/underinsured motorists insurance, a written waiver must be signed by the insured. Section 2 provides the effective date. JUSTIFICATION: Supplemental insurance, also known as uninsured or underinsured, is being waived by some insurance companies without the knowledge or authorization of the insured. The minimum coverage for passengers in a vehicle will drop to twenty-five thousand dollars, relating to physical injury, and fifty thousand dollars for death. LEGISLATIVE HISTORY: New bill. FISCAL IMPLICATIONS: None.
2011-S6352 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6352 I N S E N A T E January 31, 2012 ___________ Introduced by Sen. JOHNSON -- 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 limits on certain supplementary insurance THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (A) of paragraph 2 of subsection (f) of section 3420 of the insurance law, as separately amended by chapters 547 and 568 of the laws of 1997, is amended to read as follows: (A) Any such policy shall, at the option of the insured, also provide supplementary uninsured/underinsured motorists insurance for bodily injury, in an amount [up to] NO LESS THAN the bodily injury liability insurance limits of coverage provided under such policy, subject to a maximum of two hundred fifty thousand dollars because of bodily injury to or death of one person in any one accident and, subject to such limit for one person, up to five hundred thousand dollars because of bodily injury to or death of two or more persons in any one accident, or a combined single limit policy of five hundred thousand dollars because of bodily injury to or death of one or more persons in any one accident. PROVIDED HOWEVER, THAT IF THE INSURED DECLINES SUCH SUPPLEMENTARY UNINSURED/UNDERINSURED MOTORISTS INSURANCE SUCH DECLINATION SHALL BE MEMORIALIZED IN A WRITTEN WAIVER SIGNED BY SUCH INSURED. SUCH WAVIER SHALL DISCLOSE THE BENEFITS OF SUCH SUPPLEMENTAL POLICY AND THE ADDI- TIONAL COST THEREOF. Provided however, [an] ANY insurer issuing such policy, in lieu of offering to the insured the coverages stated above, [may] SHALL provide supplementary uninsured/underinsured motorists insurance for bodily injury, in an amount [up to] NO LESS THAN the bodi- ly injury liability insurance limits of coverage provided under such policy, subject to a maximum of one hundred thousand dollars because of bodily injury to or death of one person in any one accident and, subject to such limit for one person, up to three hundred thousand dollars because of bodily injury to or death of two or more persons in any one accident, or a combined single limit policy of three hundred thousand dollars because of bodily injury to or death of one or more persons in EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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