Assembly Bill A10564

2023-2024 Legislative Session

Relates to enacting the certificate of insurance reliability act (CIRA)

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Current 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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2023-A10564 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §501-a, amd §502, Ins L

2023-A10564 (ACTIVE) - Summary

Relates to requirements for and forms of certificates of insurance.

2023-A10564 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10564
 
                           I N  A S S E M B L Y
 
                               June 4, 2024
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weprin) --
   read once and referred to the Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to certificates of insur-
   ance
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act shall be known and cited as the "certificate of
 insurance reliability act (CIRA)".
   § 2. The insurance law is amended by adding a  new  section  501-a  to
 read as follows:
   §  501-A.  REQUIREMENTS.  NOTWITHSTANDING ANY OTHER LAW, REGULATION OR
 RULE, EVERY CERTIFICATE OF INSURANCE PROVIDING INFORMATION AS TO  COVER-
 AGE  FOR  ACTIVITIES  CONDUCTED  WITHIN  THE  STATE OF NEW YORK SHALL BE
 ISSUED BY INSURERS, AND SUCH CERTIFICATE SHALL BE BINDING ON THE  INSUR-
 ER.
   §  3.  Subsection (a) of section 502 of the insurance law, as added by
 chapter 8 of the laws of 2015, is amended to read as follows:
   (a) With respect to a certificate of insurance evidencing that a poli-
 cy provides personal  injury  liability  insurance  or  property  damage
 liability  insurance,  as defined in paragraphs thirteen and fourteen of
 subsection (a) of section one thousand  one  hundred  thirteen  of  this
 chapter,  no  person or governmental entity shall wilfully require, as a
 condition of awarding a contract for work, or if a contract has  already
 been  awarded  as a condition for work to commence or continue under the
 contract, or if the contract has been performed or  partially  performed
 as  a  condition for payment to be made under the contract, the issuance
 of a certificate of insurance unless the certificate is[:
   (1)] a form promulgated by the insurer issuing the  policy  referenced
 in the certificate of insurance[; or
   (2)  a  standard  certificate  of insurance form issued by an industry
 standard-setting organization and approved for use  by  the  superinten-
 dent] or any other form approved for use by the superintendent.
   §  4.  This  act shall take effect on the ninetieth day after it shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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