Bill Text: NY S04483 | 2021-2022 | General Assembly | Introduced
Bill Title: Allows credit cards to offer an ancillary benefit for wireless communications equipment.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2021-07-22 - SIGNED CHAP.307 [S04483 Detail]
Download: New_York-2021-S04483-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4483 2021-2022 Regular Sessions IN SENATE February 5, 2021 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to allowing credit cards to offer an ancillary benefit for wireless communications equipment The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph 12 of subsection (d) of section 3442 of the 2 insurance law, as amended by chapter 318 of the laws of 2008, is renum- 3 bered paragraph 13 and amended, and a new paragraph 12 is added to read 4 as follows: 5 (12) Loss of or damage to wireless communications equipment or loss of 6 use resulting from a defect in materials or workmanship to wireless 7 communication equipment, where: 8 (A) the wireless communications equipment is owned or leased by; 9 (i) an authorized user; or 10 (ii) a beneficiary other than an authorized user, if coverage is 11 provided under the account group policy to the beneficiary as an addi- 12 tional insured; 13 (B) the account group member's payment medium is used to obtain the 14 wireless services related to the wireless communication equipment; 15 (C) the amount of coverage does not exceed ten thousand dollars per 16 wireless communications equipment, but in no event shall the coverage 17 exceed fifty thousand dollars in the aggregate per group member per 18 policy year; 19 (D) the period of coverage for the wireless communication equipment 20 does not exceed 60 days from each date wireless services are charged, 21 debited, or drawn; and 22 (E) For purposes of this paragraph, the term "wireless communications 23 equipment" shall mean wireless handsets, pagers, personal digital 24 assistants, wireless telephones or wireless telephone batteries and 25 other wireless devices and accessories related to such devices that are EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04799-01-1S. 4483 2 1 used to access wireless communications services and includes wireless 2 services. 3 (13) Coverages which, in the opinion of the superintendent, are deter- 4 mined to be substantially similar to one of the foregoing coverages 5 specified in paragraphs one through [eleven] twelve of this subsection, 6 or such other coverages that the superintendent determines are limited 7 in scope, and not duplicative or a substitute for other more comprehen- 8 sive coverages, and thereupon for purposes of this section shall be 9 deemed to be permissible pursuant to regulations promulgated by the 10 superintendent. 11 § 2. This act shall take effect immediately.