Bill Text: NY A09638 | 2021-2022 | General Assembly | Introduced

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Bill Title: Requires a notice of a change in premium for a renewal of a commercial insurance policy shall be mailed or delivered at least ninety days in advance of the expiration date of such policy.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-03-28 - referred to insurance [A09638 Detail]

Download: New_York-2021-A09638-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9638

                   IN ASSEMBLY

                                     March 28, 2022
                                       ___________

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

        AN ACT to amend the insurance law, in relation to requiring a notice for
          renewal of certain policies be delivered at least ninety days prior to
          the expiration of such policy

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

     1    Section 1. Paragraph 3 of subsection (e) of section 3426 of the insur-
     2  ance law, as amended by chapter 235 of the laws of 1989, is  amended  to
     3  read as follows:
     4    (3)  The  notice required by paragraph one of this subsection shall be
     5  mailed or delivered at least sixty, but not more than one hundred  twen-
     6  ty, days in advance of the expiration date of the policy, except that:
     7    (A) for an excess liability policy or a policy issued to a jumbo risk,
     8  the  notice  shall  be mailed or delivered at least thirty, but not more
     9  than one hundred twenty, days in advance of the expiration date  of  the
    10  policy; and
    11    (B)  for  a  notice  of  a new premium quote for a renewal of a policy
    12  shall be mailed or delivered at least ninety  days  in  advance  of  the
    13  expiration date of such policy.
    14    § 2.  This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13576-01-1