Assembly Bill A666

2015-2016 Legislative Session

Relates to life, accident and health insurance; discrimination and rebating; prohibited inducements and independent sales

download bill text pdf

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Archive: Last Bill Status - In Assembly 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

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2015-A666 (ACTIVE) - Details

See Senate Version of this Bill:
S1672
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง4224, Ins L
Versions Introduced in Other Legislative Sessions:
2013-2014: A10006, S7299
2017-2018: A1711, S4546
2019-2020: S3624
2021-2022: S4058
2023-2024: S3555

2015-A666 (ACTIVE) - Summary

Relates to life, accident and health insurance; relates to discrimination and rebating; also relates to prohibited inducements and independent sales.

2015-A666 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   666

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced by M. of A. HEVESI -- read once and referred to the Committee
  on Insurance

AN  ACT  to  amend  the insurance law, in relation to life, accident and
  health insurance; discriminating and rebating; prohibited  inducements
  and independent sales

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subsection (f) of section 4224  of  the  insurance  law  is
amended by adding a new paragraph 3 to read as follows:
  (3)  NOTWITHSTANDING  SUBSECTION (C) OF THIS SECTION, A LICENSED AGENT
OR INSURANCE BROKER MAY PROVIDE THE FOLLOWING SERVICES WITHOUT  CHARGING
A  SERVICE  FEE  OR,  IN  THE CASE OF A LICENSED INSURANCE BROKER, FOR A
SEPARATE SERVICE FEE PURSUANT TO A WRITTEN MEMORANDUM MADE IN ACCORDANCE
WITH SUBSECTION (C) OF SECTION TWO THOUSAND ONE HUNDRED NINETEEN OF THIS
CHAPTER, IF SUCH SERVICES ARE PROVIDED IN A FAIR  AND  NONDISCRIMINATORY
MANNER  AND  INCIDENTAL TO A GROUP OR BLANKET POLICY OR CONTRACT SOLD BY
THE INSURANCE AGENT OR INSURANCE BROKER:
  (I) RISK ASSESSMENT, INCLUDING IDENTIFYING SOURCES OF RISK AND  DEVEL-
OPING STRATEGIES FOR ELIMINATING OR LIMITING THOSE RISKS;
  (II) INSURANCE CONSULTING SERVICES OR OTHER INSURANCE-RELATED ADVICE;
  (III) INSURANCE-RELATED REGULATORY AND LEGISLATIVE UPDATES;
  (IV)  CERTAIN CLAIMS ASSISTANCE SERVICES (INCLUDING THE PREPARATION OF
CLAIMS FORMS), BUT EXCLUDING ADJUSTMENT, UNLESS THE EXCEPTIONS SET FORTH
IN SUBSECTION (G) OF SECTION TWO THOUSAND ONE HUNDRED ONE OF THIS  CHAP-
TER ARE SATISFIED;
  (V)  TAX  PREPARATION  ON  BEHALF  OF AN EMPLOYER OF SCHEDULE A OF THE
INTERNAL REVENUE SERVICE FORM FIFTY-FIVE HUNDRED ANNUAL RETURN/REPORT OF
EMPLOYEE BENEFIT PLAN, WHICH REQUESTS  INFORMATION  REGARDING  INSURANCE
CONTRACT   COVERAGE,  FEES,  AND  COMMISSIONS,  INVESTMENT  AND  ANNUITY
CONTRACTS, AND WELFARE BENEFIT CONTRACTS;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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