What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
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.
Relates to limits on certain supplementary insurance
Assembly Floor Calendar · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4674
Title of bill
An act to amend the insurance law, in relation to limits on certain supplementary insurance
Purpose
The purpose of this bill is to provide auto insurance consumers with information necessary to make an informed decision regarding their SUM coverage.
Summary of provisions
This bill would require that the amount of supplementary uninsured/underinsured motorist (SUM) coverage that insurance carriers must make available to consumers is equal to the bodily injury limits on a policy, removing a $250,000 cap on required coverage. In addition, this bill would require that, at the time a policy is purchased, consumers be offered a choice of purchasing: 1) SUM coverage equal to the level of bodily injury limits on the policy; 2) SUM coverage at limits less than bodily injury limits on the policy; or 3) mandatory minimum SUM coverage. The insurer or agent would be required to disclose to the insured what SUM coverage is and what premiums would apply at each level of coverage.
Justification
Supplementary insurance, also known as uninsured or underinsured motorist insurance, protects motorists who suffer severe and devastating injuries in accidents with drivers who carry inadequate or no insurance. Few drivers are aware of the value of supplementary insurance and insurance companies rarely offer supplementary insurance coverage above the statutory minimum. This bill will ensure that drivers are informed of the availability of SUM coverage and can affirmatively elect the coverage that best meets their needs.
Legislative history
S.5606 of 2013-14.
Fiscal implications
None.
Effective date
This act will take effect on the 180th 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.