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Enacted Law Bulletin 02.16.24
The following bills have been enacted into law this session after being signed by Governor Hochul. Should you have any questions regarding these bills, please contact NYIA’s General Counsel, Bob Farley at (518) 986-2037 or bfarley@nyia.org.
AN ACT to amend the insurance law and a chapter of the laws of 2023 amending the insurance law relating to using driving history as a rating or underwriting factor for private passenger motor vehicle insurance, as proposed in legislative bills numbers S5764B and A4668B, in relation to using driving history as a rating or underwriting factor for private passenger motor vehicle insurance.
This bill would enact a chapter amendment to last session’s bill A4668B/S5764B relating to mandating that insurers must verify a driver’s driving history when it is used as a rating or underwriting factor for private passenger motor vehicle insurance.
More specifically, this chapter amendment would amend section 2327 of the insurance law, to limit the mandate that an insurer must verify a driver’s driving history when it is used as a rating or underwriting factor for private passenger motor vehicle insurance, to only include the verification of a driver’s New York State driving history. This chapter amendment would further remove this mandate altogether for such verification, upon policy renewals.
This chapter amendment was signed as Chapter 80 and will take effect on May 20, 2024.
AN ACT to amend the insurance law, in relation to supplementary uninsured and underinsured motorist coverage for police agencies; and to amend a chapter of the laws of 2023 amending the insurance law and the vehicle and traffic law relating to supplementary uninsured and underinsured motorist coverage for police agencies, as proposed in legislative bills numbers S439 and A1178, in relation to the effectiveness thereof.
This bill would enact a chapter amendment to last session’s bill A1178/S439 which mandated that supplementary uninsured and underinsured motorist coverage must be purchased for all emergency vehicles, such as police cars and fire trucks.
More specifically, this chapter amendment would amend section 3420 of the insurance law, to limit the mandate for the purchase of such SUM coverage, to only such vehicles garaged and used in New York State. It would further also remove the mandate that such SUM coverage purchased, must be no less than the bodily injury liability limits of the underlying vehicles policy.
This chapter amendment was signed as chapter 30, on February 7, 2024, and took effect immediately. DFS recently issued an emergency regulation in response to the legislation.
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