Senate Bill S5899

2023-2024 Legislative Session

Relates to alternative forms of identification for renters insurance

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Insurance 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-S5899 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Add §3422, Ins L
Versions Introduced in 2021-2022 Legislative Session:
S9183

2023-S5899 (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.

2023-S5899 (ACTIVE) - Sponsor Memo

2023-S5899 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5899
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              March 22, 2023
                                ___________
 
 Introduced  by Sen. BRISPORT -- read twice and ordered printed, and when
   printed to be committed 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  3422
 to read as follows:
   §  3422.  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.
                                                            LBD02052-01-3

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