Bill Text: NY A00395 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to personal and commercial lines insurance; provides that an insurer or producer shall, prior to the time a policy of personal lines insurance is sold or purchased, provide the potential insured with a copy of the policy and allow the potential insured sufficient time to review such policy; further provides that an insurer or producer shall, prior to the time a policy of commercial lines insurance that provides coverage for loss or damage to real property, personal property, or other liabilities for loss or damage to property is sold or purchased, provide the potential insured with a copy of the policy and allow the potential insured sufficient time to review such policy.
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: (Introduced - Dead) 2020-01-16 - advanced to third reading cal.328 [A00395 Detail]
Download: New_York-2019-A00395-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 395 2019-2020 Regular Sessions IN ASSEMBLY (Prefiled) January 9, 2019 ___________ Introduced by M. of A. CAHILL -- Multi-Sponsored by -- M. of A. ABINAN- TI, BUCHWALD, CUSICK, MALLIOTAKIS, WEPRIN -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to personal and commer- cial lines insurance The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 3425 of the insurance law is amended by adding a 2 new subsection (a-1) to read as follows: 3 (a-1) An insurer or producer shall, prior to the time a policy of 4 personal lines insurance is sold or purchased, provide the potential 5 insured with a copy of the policy and allow the potential insured suffi- 6 cient time to review such policy. Personal lines insurance shall have 7 the same meaning as paragraph two of subsection (a) of this section. 8 § 2. Section 3426 of the insurance law is amended by adding a new 9 subsection (a-1) to read as follows: 10 (a-1) An insurer or producer shall, prior to the time a policy of 11 commercial lines insurance that provides coverage for loss or damage to 12 real property, personal property, or other liabilities for loss or 13 damage to property is sold or purchased, provide the potential insured 14 with a copy of the policy and allow the potential insured sufficient 15 time to review such policy. 16 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01993-01-9