Assembly Bill A3251

2017-2018 Legislative Session

Requires full disclosure of the amount and duration of assessments in insurance policies

download bill text pdf

Sponsored By

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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2017-A3251 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3102, Ins L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7438
2015-2016: A4514
2019-2020: A4969

2017-A3251 (ACTIVE) - Summary

Requires full disclosure of the amount and duration of assessments in insurance policies.

2017-A3251 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3251
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2017
                                ___________
 
 Introduced  by  M.  of  A.  RAIA, FINCH -- read once and referred to the
   Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to requiring full disclo-
   sure of the amount and duration of assessments in insurance policies
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  3102 of the insurance law is amended by adding a
 new subsection (g) to read as follows:
   (G) EACH INSURANCE POLICY, OR RENEWAL THEREOF, MADE, ISSUED OR  DELIV-
 ERED  IN  THIS  STATE  ON A RISK LOCATED OR RESIDENT IN THIS STATE SHALL
 IDENTIFY ANY AND ALL ASSESSMENTS MADE PURSUANT TO SUCH POLICY  AS  BEING
 ASSESSMENTS, AND SHALL SPECIFY ON ITS DECLARATIONS PAGE:
   (1)  THE  AMOUNT OF THE ASSESSMENT FOR THE IMMEDIATE POLICY PERIOD AND
 IN TOTAL;
   (2) THE METHOD BY WHICH THE ASSESSMENT IS CALCULATED;
   (3) THE TOTAL YEARS FOR WHICH THE ASSESSMENT IS LEVIED; AND
   (4) THE NUMBER OF YEARS REMAINING DURING WHICH THE ASSESSMENT SHALL BE
 LEVIED.
   § 2. This act shall take effect on the first of January next  succeed-
 ing the date on which it shall have become a law.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06849-01-7

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