Bill Text: NY A05154 | 2021-2022 | General Assembly | Introduced

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Bill Title: Requires insurers to display certain underwriting information on the declarations page to their homeowners and dwelling fire personal lines policies.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced - Dead) 2022-05-04 - held for consideration in insurance [A05154 Detail]

Download: New_York-2021-A05154-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5154

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 11, 2021
                                       ___________

        Introduced  by  M.  of A. MONTESANO, B. MILLER, MORINELLO, J. M. GIGLIO,
          McDONOUGH -- read once and referred to the Committee on Insurance

        AN ACT to amend the insurance law,  in  relation  to  the  provision  of
          underwriting information

          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 3444-a
     2  to read as follows:
     3    § 3444-a. Underwriting information. 1. Insurers shall display  on  the
     4  declarations  page  to their homeowners and dwelling fire personal lines
     5  insureds all pertinent  underwriting  information  used  to  derive  the
     6  premium  for  such  policy, including, but not limited to, the estimated
     7  square footage of the property to be insured, its  primary  construction
     8  material,  distance  from nearest fire hydrant (if applicable), the fire
     9  district or fire protection district in which the  property  is  located
    10  and  whether  a credit score was used in determining the premium and, if
    11  so, the actual score and where such score  lies  on  the  scale  of  the
    12  company or entity which provided the score.
    13    2.  The information required by this section shall be displayed on the
    14  declarations page of all new homeowners and dwelling fire personal lines
    15  policies and all renewal homeowners and dwelling fire policies.
    16    § 2. This act shall take effect on the one hundred eightieth day after
    17  it shall have become a law.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08615-01-1