Bill Text: NY A10564 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to requirements for and forms of certificates of insurance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-06-04 - referred to insurance [A10564 Detail]

Download: New_York-2023-A10564-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10564

                   IN ASSEMBLY

                                      June 4, 2024
                                       ___________

        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weprin) --
          read once and referred to the Committee on Insurance

        AN ACT to amend the insurance law, in relation to certificates of insur-
          ance

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

     1    Section  1.  This  act shall be known and cited as the "certificate of
     2  insurance reliability act (CIRA)".
     3    § 2. The insurance law is amended by adding a  new  section  501-a  to
     4  read as follows:
     5    §  501-a.  Requirements.  Notwithstanding any other law, regulation or
     6  rule, every certificate of insurance providing information as to  cover-
     7  age  for  activities  conducted  within  the  state of New York shall be
     8  issued by insurers, and such certificate shall be binding on the  insur-
     9  er.
    10    §  3.  Subsection (a) of section 502 of the insurance law, as added by
    11  chapter 8 of the laws of 2015, is amended to read as follows:
    12    (a) With respect to a certificate of insurance evidencing that a poli-
    13  cy provides personal  injury  liability  insurance  or  property  damage
    14  liability  insurance,  as defined in paragraphs thirteen and fourteen of
    15  subsection (a) of section one thousand  one  hundred  thirteen  of  this
    16  chapter,  no  person or governmental entity shall wilfully require, as a
    17  condition of awarding a contract for work, or if a contract has  already
    18  been  awarded  as a condition for work to commence or continue under the
    19  contract, or if the contract has been performed or  partially  performed
    20  as  a  condition for payment to be made under the contract, the issuance
    21  of a certificate of insurance unless the certificate is[:
    22    (1)] a form promulgated by the insurer issuing the  policy  referenced
    23  in the certificate of insurance[; or
    24    (2)  a  standard  certificate  of insurance form issued by an industry
    25  standard-setting organization and approved for use  by  the  superinten-
    26  dent] or any other form approved for use by the superintendent.
    27    §  4.  This  act shall take effect on the ninetieth day after it shall
    28  have become a law.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15846-01-4