Assembly Bill A3874

2019-2020 Legislative Session

Relates to limits on certain supplementary insurance

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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2019-A3874 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3420, Ins L
Versions Introduced in Other Legislative Sessions:
2013-2014: A6727
2015-2016: A3121
2017-2018: A5445

2019-A3874 (ACTIVE) - Summary

Relates to limits on certain supplementary insurance; requires notice of procedures for rejecting supplementary uninsured/underinsured motorists coverage.

2019-A3874 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3874
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 31, 2019
                                ___________
 
 Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred 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. Paragraph 2 of subsection (f) of section 3420 of the insur-
 ance law, as separately amended by chapters 547 and 568 of the  laws  of
 1997, is amended to read as follows:
   (2)  (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 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,  an  insurer  issuing  such  policy, in lieu of offering to the
 insured  the  coverages  stated   above,   may   provide   supplementary
 uninsured/underinsured  motorists  insurance  for  bodily  injury, in an
 amount up to the bodily 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 any one accident, if such insurer also makes available a
 personal umbrella policy with liability coverage limits up to  at  least

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

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