S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4115
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2019
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee 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, [an] ANY insurer issuing such  poli-
 cy, 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  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 poli-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD04422-01-9

 A. 4115                             2
 
 cy  with  liability  AND  SUPPLEMENTARY UNINSURED/UNDERINSURED MOTORISTS
 INSURANCE coverage limits up to at least five hundred  thousand  dollars
 [which  also  provides coverage for supplementary uninsured/underinsured
 motorists   claims].    Supplementary  uninsured/underinsured  motorists
 insurance shall provide coverage, in any state or Canadian province,  if
 the  limits  of  liability  under  all bodily injury liability bonds and
 insurance policies of another motor vehicle liable for damages are in  a
 lesser  amount  than  the  bodily  injury  liability insurance limits of
 coverage provided by such policy.  Upon written request by  any  insured
 covered  by  supplemental  uninsured/underinsured motorists insurance or
 his duly authorized representative and upon disclosure by the insured of
 the insured's  bodily  injury  and  supplemental  uninsured/underinsured
 motorists  insurance  coverage limits, the insurer of any other owner or
 operator of another motor vehicle against which a claim  has  been  made
 for damages to the insured shall disclose, within forty-five days of the
 request,  the  bodily  injury liability insurance limits of its coverage
 provided under the policy or all bodily injury liability bonds. The time
 of the insured to make any supplementary uninsured/underinsured motorist
 claim, shall be tolled during the period the insurer of any other  owner
 or  operator  of another motor vehicle that may be liable for damages to
 the insured, fails to so disclose its coverage.  As a  condition  prece-
 dent  to  the  obligation  of the insurer to pay under the supplementary
 uninsured/underinsured  motorists  insurance  coverage,  the  limits  of
 liability  of  all  bodily  injury liability bonds or insurance policies
 applicable at the time of the accident shall be exhausted by payment  of
 judgments or settlements.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law, and shall apply to insurance policies  and  contracts
 issued, entered into or renewed on and after such effective date.