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Who cares
Headline styles
Sponsors
1 Co-sponsor
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.
Prohibits automobile insurers from considering an applicant's or insured's credit history in the process of providing a policy of automobile insurance
In Assembly Committee · Insurance · Sponsor Karim Camara
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 prohibiting automobile insurers from using an applicant's or insured's credit history in the underwriting, rating or premiums for a policy of automobile insurance
PURPOSE OR GENERAL IDEA OF BILL :; Prohibits the automobile insurance companies from using an applicant's or insured's credit history in the underwriting, rating or premiums of automobile insurance rate.
Summary of specific provisions
Section 1 amends the insurance law by prohibiting the automobile insurance companies from using an applicant's or insured's credit history in the underwriting, rating or premiums of automobile insurance rate.
Section 2 states the effective date.
Justification
Automobile insurance companies currently use credit history and/or score as a tool to determine car insurance rates/premiums, which is irrelevant. Car insurance companies should only be able to use driving records, such as moving violations as a means of determining insurance premiums.
Legislative history
This is a new bill.
Fiscal implications
None.
Effective date
This act shall take effect on the thirtieth day after it shall have become a law and shall apply to all policies, issued, renewed, modified or altered on or after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.