Bill Text: NY A00955 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to insurers providing an actuarially appropriate reduction of premiums for yacht or boating liability insurance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2021-06-11 - signed chap.113 [A00955 Detail]

Download: New_York-2021-A00955-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           955

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on Insurance

        AN  ACT to amend the insurance law, in relation to insurers providing an
          actuarially appropriate reduction of premiums  for  yacht  or  boating
          liability insurance

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subsection (c) of section 2336-b of the insurance  law,  as
     2  added  by a chapter of the laws of 2020, amending the navigation law and
     3  the insurance law relating to insurance rate reductions upon  completion
     4  of  a  boating  safety  course  or an advanced boating safety course, as
     5  proposed in legislative bills  numbers  S.  3688-A  and  A.  5415-A,  is
     6  amended to read as follows:
     7    (c)  An insurer, upon approval of the superintendent, [shall] may upon
     8  submission of a completion certificate by an insured, provide an actuar-
     9  ially appropriate reduction of the premium for such insured's  yacht  or
    10  boating liability insurance.
    11    §  2.  This  act  shall  take  effect on the same date and in the same
    12  manner as a chapter of the laws of 2020, amending the navigation law and
    13  the insurance law relating to insurance rate reductions upon  completion
    14  of  a  boating  safety  course  or an advanced boating safety course, as
    15  proposed in legislative bills numbers S. 3688-A  and  A.  5415-A,  takes
    16  effect.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07150-01-1