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A3650Assembly2017-2018 SessionSame asS5214

Stop Age-Based Insurance Hikes

Official title

“Prohibits insurer from increasing auto insurance premiums upon renewal for persons 60 years of age or over solely on the ground of insureds' age”

Sponsor William ColtonAD-47+5 co-sponsorsAffects Finance
Status
In Assembly Committee
Insurance
Impact
5/10
Moderate
Passage
0%

Bill progress

Step 2 of 7

In committee · Insurance

What's happening

This bill prohibits insurers from raising premiums or refusing to renew auto insurance for people aged 60 or older based solely on age.

Why it matters

  1. Protects older drivers from age-based discrimination by insurance companies. , ensuring that individuals aged 60 and above are not penalized with higher premiums or non-renewal of their auto insurance solely because of their age.

  2. Promotes financial security for seniors. , many of whom are on fixed incomes, by helping to stabilize insurance costs and avoid unexpected increases as they grow older.

  3. Encourages fairer assessment of risk. , pushing insurers to rely on actual driving history and other relevant factors rather than using age as a blanket criterion, which can lead to more individualized and equitable treatment.

  4. Supports aging-in-place and continued independence for older New Yorkers. , as affordable auto insurance can be a key factor in maintaining mobility and access to essential services.

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Who cares

Headline styles

Stop Age-Based Insurance Hikes

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
William Colton

Assembly Member · Assembly District 47

History

  1. Referred to insurance
  2. 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.

S5214Senate

Stop Age-Based Insurance Hikes

In Senate Committee · Insurance · Sponsor Toby Ann Stavisky

Impact 5 · Moderate0% to pass

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

3650

2017-2018 Regular Sessions

IN ASSEMBLY

January 30, 2017

Introduced by M. of A. COLTON, RIVERA, M. G. MILLER, CROUCH, JAFFEE, McDONOUGH, SALADINO -- Multi-Sponsored by -- M. of A. ABBATE, HOOPER, SIMON -- read once and referred to the Committee on Insurance

AN ACT to amend the insurance law, in relation to prohibiting the increase of premiums or failure to renew automobile insurance policies for persons 60 years of age or over

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subsection (i) of section 3425 of the insurance law is amended to read as follows:

(i) (1) No insurer shall refuse to issue or renew a covered policy solely on the ground of the advanced age of the applicant or insured.

(2) With respect to automobile insurance policies, no insurer shall increase the premium billed to an insured who is sixty years of age or over for the renewal of an existing policy solely on the ground of the age of the insured.

§ 2. This act shall take effect on the first of January next succeeding the date on which it shall have become a law and shall apply to renewals of policies issued on and after such date.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD04982-01-7

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.