S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    251
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced by M. of A. CAHILL -- read once and referred to the Committee
   on Insurance
 
 AN  ACT  relating  to  the  creation  of a study of the minimum coverage
   amounts for non-commercial auto insurance
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The department of financial services shall conduct a study
 of the minimum coverage amounts for  liability  and  uninsured  motorist
 coverage  currently  required under article 3 of the vehicle and traffic
 law for non-commercial auto insurance in New  York  state,  the  minimum
 amount of no-fault coverage required by article 51 of the insurance law,
 and additional coverage options, including but not limited to comprehen-
 sive, collision, and supplemental uninsured/underinsured motorist cover-
 age.    In conducting this study, such department shall consider whether
 the current minimum coverage amounts are adequate to protect  consumers;
 whether  and  to what extent consumers purchase higher coverage amounts;
 the impact higher coverage amounts have on premiums, claims  processing,
 and  consumer  satisfaction; and any other factors such department deems
 relevant. Such department  shall  consult  with  relevant  stakeholders,
 including  insurance  companies,  insurance producers, consumer advocacy
 groups, and any other person or entity such department deems  necessary.
 Such  department  shall issue a report of its findings as well as recom-
 mendations as to whether  the  required  minimum  coverage  amounts  for
 liability,   uninsured   motorist   coverage,  and  no-fault  should  be
 increased, the extent to which such amounts should be increased, and the
 impact this would have on premiums. Such  department  shall  submit  its
 report  to  the  governor,  the  temporary  president of the senate, the
 speaker of the assembly, and the  chairs  of  the  senate  and  assembly
 standing committees on insurance no later than April 15, 2021.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD03113-01-9