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Who cares
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Sponsors
No co-sponsors yet.
History
- Substituted by A4616
- Ordered to third reading cal.105
- Referred to rules
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.
Relates to certificates of insurance
Signed by Governor · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3681
Title of bill
An act to amend the insurance law, in relation to certificates of insurance; and to amend chapter 552 of the laws of 2014 amending the insurance law relating to certificates of insurance, in relation to the effectiveness thereof
Purpose
To make technical amendments to Chapter 552 of 2014.
Summary of provisions
Section 1 amends Article 5 of the Insurance Law, enacted by Chapter 552 of the laws of 2014. These changes would clarify that: prohibitions against falsely amending certificates shall be applicable to addenda to such certificates; personal liability insurance and property liability insurance certificate forms must be approved by the Department of Financial Services; and the penalty for violating the article shall be $1,000 for a first offense and $2,000 for a subsequent offense, following a notice and hearing.
Section 2 of the bill provides for a 180 day effective date, and provides that Chapter 552 of 2014 shall become effective on the same date.
Justification
Currently, insurance producers are sometimes asked to alter insurance certificates to show coverage which does not exist in the referenced policy. This places insurance producers in an untenable position. While the Department of Financial Services has instructed producers not to amend certificates to reflect coverages which are not included in the insurance policy, the law failed to provide a statutory reference which a producer could cite when refusing to do so at a policyholder's request.
Chapter 552 of 2014 prohibited any person to request the issuance of, or to produce, a certificate of insurance that contains any false or misleading information. This bill would make technical changes to that chapter to clarify the kinds of insurance certificates which must be approved by the Department, and to specify the penalty for violating such law. Additionally, this bill would extend the effective date of Chapter 552 of 2014 from 90 to 180 days from passage.
Legislative history
New bill.
Fiscal implications
None.
Effective date
Immediate, provided that it shall take effect on the same date as Chapter 552 of 2014.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.