Bill Text: NY A00901 | 2015-2016 | General Assembly | Introduced

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Bill Title: Prohibits insurers from using credit information as the sole basis for charging an increased premium when underwriting or rating a new policy.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to insurance [A00901 Detail]

Download: New_York-2015-A00901-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          901
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    January 8, 2015
                                      ___________
       Introduced by M. of A. MILLER -- read once and referred to the Committee
         on Insurance
       AN ACT to amend the insurance law, in relation to prohibiting the use of
         credit information as the sole basis for charging an increased premium
         for a new policy
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 2802 of the insurance law is amended  by  adding  a
    2  new subdivision (b-1) to read as follows:
    3    (B-1)  USE  CREDIT  INFORMATION  OF  A  CONSUMER AS THE SOLE BASIS FOR
    4  CHARGING AN INCREASED PREMIUM FOR UNDERWRITING OR RATING A NEW POLICY;
    5    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02810-01-5