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History
- Referred to insurance
- Referred to insurance
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3164
Title of bill
An act to amend the insurance law, in relation to the cancellation and renewal provisions of insurance policies
Purpose or general idea of bill
Requires insurance companies to give adequate notice to the insured if the insurance company terminates, modifies or intends to terminate the existing insurer-insured relationship.
Summary of specific provisions
Paragraph 1 of Subsection (h) of section 3425 of the insurance law, as amended by chapter 675 of the laws of 2003 is amended. This legislation provides that the following communications from an insurance company to an insured shall be mailed by registered or certified mail return receipt requested:
1. A notice of cancellation.
2. Elimination of coverage.
3. Intention not to renew or reasons therefore.
Justification
If mail is lost or misdirected an individual may be open to personal liability merely because he/she is unaware that his/her insurance has been canceled.
Prior legislative history
Previously introduced.
Fiscal implications
None.
Effective date
This act shall take effect on the sixtieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.