Bill Text: NY A04668 | 2023-2024 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Requires third party verification of driving history when used as a rating or underwriting factor for private passenger motor vehicle insurance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2023-06-21 - substituted by s5764b [A04668 Detail]

Download: New_York-2023-A04668-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         4668--A
                                                                 Cal. No. 88

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 22, 2023
                                       ___________

        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          on  Insurance  --  advanced to a third reading, passed by Assembly and
          delivered to the Senate, recalled from the Senate, vote  reconsidered,
          bill  amended,  ordered reprinted, retaining its place on the order of
          third reading

        AN ACT to amend the insurance law, in relation to using driving  history
          as a rating or underwriting factor for private passenger motor vehicle
          insurance

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

     1    Section 1. The insurance law is amended by adding a new  section  2327
     2  to read as follows:
     3    §  2327.  Verification  of driving history. No insurer who utilizes an
     4  applicant's driving history as  a  rating  or  underwriting  factor  for
     5  private  passenger  motor  vehicle  insurance in this state shall bind a
     6  policy of insurance, or accept a percentage of the  annual  premium  due
     7  for  a policy, without first verifying such applicant's driving history,
     8  as well as the driving history of all named-drivers  that  are  used  to
     9  rate the policy and are listed by the applicant on the private passenger
    10  motor  vehicle  insurance  application, through the use of a third party
    11  database. An insurer also shall verify, through a third party  database,
    12  the driving history of a named-driver used to rate the policy when added
    13  during  the  policy  period  and shall verify the driving history of all
    14  drivers used to rate the policy at policy renewal.
    15    § 2. This act shall take effect on the ninetieth day  after  it  shall
    16  have  become  a law and shall apply to policies issued, renewed or modi-
    17  fied on or after such date. Effective immediately, the addition,  amend-
    18  ment and/or repeal of any rule or regulation necessary for the implemen-
    19  tation  of  this act on its effective date are authorized to be made and
    20  completed on or before such effective date.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09439-05-3