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Sponsors
No co-sponsors yet.
History
- Referred to insurance
- Referred to insurance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Restricts insurers from demanding intrusive personal, financial and tax information from insureds as a standard practice in ordinary theft claims
In Assembly Committee · Insurance · Sponsor Jeffrey Dinowitz
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the insurance law, in relation to restricting insurers from demanding intrusive personal, financial and tax information from insureds as a standard practice in processing ordinary theft claims
Purpose
Restricts insurers from demanding intrusive personal, financial and tax information from insureds as a standard practice in ordinary theft claims.
Summary of provisions
Adds a new section 2616 to the Insurance Law, to restrict insurers from demanding intrusive personal, financial and tax information from an insured as a standard practice in ordinary theft claims.
Justification
Requests for personal and financial information which has nothing to do with a theft claim made by an insured are inappropriate and intrusive. For example, companies have requested copies of personal and business tax returns, license and registration, other permits or licenses held in NYS, loan applications filed, statements setting forth the county and state in which the insured was registered to vote over the last five years, copies of any bank statements, and copies of any "Doing Business As" Certificates or Certificates of Incorporation for any businesses owned in addition to requiring that the insured make a recorded statement regarding the circumstances of the theft. While an insurance company has a right to information pertinent to the claim in question, clearly many of these demands go beyond being reasonable requests and are exceedingly onerous and intrusive.
Legislative history
S.7060 of 2006 Referred to Insurance S.3897 of 2007-2008 Referred to Insurance
Fiscal implications
None.
Effective date
January 1 provided, however, that effective immediately, the addition, amendment and/or repeal of any rules and regulations necessary for the implementation of this act on its effective date is authorized and directed to be made and completed on or before such effective date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.