Bill Text: NY A02956 | 2019-2020 | 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) 2020-01-08 - referred to insurance [A02956 Detail]

Download: New_York-2019-A02956-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          2956
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 28, 2019
                                       ___________
        Introduced  by  M.  of  A. M. G. 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    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00379-01-9