Assembly Bill A8414

2021-2022 Legislative Session

Relates to alternative forms of identification for renters insurance

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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2021-A8414 (ACTIVE) - Details

See Senate Version of this Bill:
S9183
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §3421, Ins L
Versions Introduced in 2023-2024 Legislative Session:
A125, S5899

2021-A8414 (ACTIVE) - Summary

Relates to alternative forms of identification for renters insurance, including a municipal identification card, or other state or local government-issued identification card, or a notarized copy of the rental lease signed by the property owner, the property management firm and the insured.

2021-A8414 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8414
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 8, 2021
                                ___________
 
 Introduced  by  M. of A. CRUZ -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to alternative  forms  of
   identification for renters insurance
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The insurance law is amended by adding a new  section  3421
 to read as follows:
   §  3421.  RENTERS  INSURANCE;  ALTERNATIVE  FORMS  OF  IDENTIFICATION.
 NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER OR ANY OTHER LAW  TO
 THE  CONTRARY,  EVERY  INSURER  ISSUING A POLICY OR CONTRACT FOR RENTERS
 INSURANCE, SHALL ACCEPT, IN LIEU OF A SOCIAL SECURITY NUMBER, A  MUNICI-
 PAL IDENTIFICATION CARD, OR OTHER STATE OR LOCAL GOVERNMENT-ISSUED IDEN-
 TIFICATION  CARD.  THE INSURER MAY ALSO REQUIRE, AS PROOF OF IDENTITY, A
 NOTARIZED COPY OF THE RENTAL LEASE SIGNED BY  THE  PROPERTY  OWNER,  THE
 PROPERTY MANAGEMENT FIRM AND THE INSURED. THE PREMIUM FOR SUCH POLICY OR
 CONTRACT  WHICH INSURES RENTERS SHALL BE BASED ON SOUND UNDERWRITING AND
 ACTUARIAL PRINCIPLES. INSURERS SHALL PROVIDE INSUREDS WITH THE OPTION TO
 PAY SUCH RENTERS INSURANCE PREMIUM IN ONE FULL PAYMENT, IN TWELVE MONTH-
 LY PAYMENTS, OR BY BIANNUAL PAYMENTS.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13308-01-1

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