Relates to prohibiting rate variations of over ten percent between counties within the city of New York for nonbusiness private passenger automobiles

4 Co-sponsors

• Tony Avella
• Ruben Diaz
• Ruth Hassell-Thompson
• Toby Ann Stavisky

BILL NUMBER:S1344

Title of bill

An act to amend the insurance law, in relation to prohibiting insurance rate variations of more than ten percent between counties within the city of New York for non-business private passenger automobiles

Purpose or general idea of bill

The purpose of this bill is to make private passenger automobile insurance more affordable for certain New York City residents.

Summary of specific provisions

This bill would, with respect to private passenger automobile insurance, prohibit any insurer or rate service organization from using, applying for or filing with the superintendent for approval any rates that apply to rating territories within the city of New York that provide for rate variations between any county within the city of more than ten percent.

Justification

Currently, New York City residents are paying the highest auto insurance premiums in the State. There are some policyholders residing in certain boroughs of the city of New York that are forced to pay much higher premiums than policyholders within the same risk classification that reside in a different section or borough of the city. This bill would help lower the cost of insurance for those residents in certain areas of the City who may be unable to afford coverage simply because of their geographical location.

Prior legislative history

S.1106/A.2367 - 2009/10 S.496/A.948 - 2007/08 - Died in Committee A.1142/A.2131 - 2005/06 S.2550/A.5568 - 2003/04 A.9305 - 2001/02

Fiscal implications for state and local governments

None to the State.

Effective date

Immediately.