Bill Text: NY A09812 | 2021-2022 | General Assembly | Introduced

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Bill Title: Permits companies to assess various insurance quotes without having binding agreements with insurance brokers.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-04-19 - referred to insurance [A09812 Detail]

Download: New_York-2021-A09812-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9812

                   IN ASSEMBLY

                                     April 19, 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 permitting companies
          to assess various insurance quotes without having  binding  agreements
          with insurance brokers

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

     1    Section 1. Section 2119 of the insurance law is amended  by  adding  a
     2  new subsection (g) to read as follows:
     3    (g)   No memorandum or contract required pursuant to subsection (a) of
     4  this section shall be binding on any company for examining,  appraising,
     5  reviewing  or  evaluating any insurance policy, bond, annuity or pension
     6  or profit-sharing contract, plan or program or  for  making  recommenda-
     7  tions  or  giving advice with regard to any of the above by an insurance
     8  broker.
     9    § 2. This act shall take effect on the sixtieth  day  after  it  shall
    10  have become a law.






         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13575-01-1