What's happening
This bill allows insurance companies to provide loss prevention devices, incentives, or safety-related items to insured or prospective insured individuals.
Why it matters
Encourages preventative safety. By allowing insurers to give out devices or incentives focused on loss reduction or safety (like telematics, dash cams, or smart sensors), this bill could directly reduce accidents, injuries, or property damage among insured individuals.
May influence insurance pricing and competition. The ability for insurers to offer value-added items or incentives could make insurance policies more attractive and competitive, potentially leading to better deals or enhanced services for consumers.
Expands risk management tools for consumers. Prospective and current policyholders could gain access to technology or equipment (such as driver safety monitors or home safety devices) that they might not otherwise purchase, empowering them to better manage their own risks.
Creates flexibility in insurer offerings. The bill specifically allows insurers to provide "similar but not necessarily identical" devices or incentives, which gives insurers flexibility to tailor offerings to different customers or risk profiles without being overly constrained by uniformity requirements.
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Who cares
Headline styles
Let Insurers Give Safety Devices
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to insurance
- Referred to insurance
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3834
2019-2020 Regular Sessions
IN ASSEMBLY
January 31, 2019
Introduced by M. of A. PRETLOW -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to permitting insurers to provide certain loss prevention and risk management devices to insureds and prospective insureds
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 2324 of the insurance law is amended by adding a new subsection (d-1) to read as follows:
(d-1) Nothing in this section shall be deemed to prohibit an insurer, or a person acting in conjunction with, or on behalf of an insurer, from providing an insured, or a prospective insured, with loss reduction or safety related electronics, equipment or devices or items, or special offers or other things of value or incentives designed to assist an insured under a policy in managing the risks they may face while they are an insured or in promoting driver safety for prospective insureds. In carrying out the provisions of this subsection, an insurer may provide similar but not necessarily identical devices or items to insureds and prospective insureds.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08383-01-9
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.