Bill Text: NY A04985 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 4985 (Prior Session Legislation)

Introduced

Bill Title: Allows residents who are employed by employers based in another state to obtain property/casualty or liability coverage under a policy issued to their employer in that state.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2016-01-06 - referred to insurance [A04985 Detail]

Download: New_York-2015-A04985-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4985
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 10, 2015
                                      ___________
       Introduced  by  M. of A. BARCLAY, WALTER, CORWIN, FINCH -- read once and
         referred to the Committee on Insurance
       AN  ACT  to  amend   the   insurance   law,   in   relation   to   group
         property/casualty insurance
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 3435 of the insurance law is amended  by  adding  a
    2  new subsection (e) to read as follows:
    3    (E) NEITHER THE PROVISIONS OF THIS SECTION NOR ANY OTHER PROVISIONS OF
    4  THIS  CHAPTER  SHALL  SERVE  TO PREVENT THE ISSUANCE OF A CERTIFICATE OF
    5  GROUP PROPERTY/CASUALTY OR LIABILITY INSURANCE ISSUED TO A  RESIDENT  OF
    6  THIS  STATE  WHEN  SUCH  CERTIFICATE  IS  ISSUED  UNDER  A MASTER POLICY
    7  PROCURED BY AN EMPLOYER BASED IN ANOTHER STATE, PROVIDED (I) THE  POLICY
    8  IS  AN APPROVED POLICY ISSUED BY AN INSURER LICENSED IN SUCH STATE, (II)
    9  THE POLICY HAS BEEN APPROVED FOR SALE IN SUCH STATE, AND (III)  PROVIDED
   10  THE  CERTIFICATE  IS  ISSUED  WITHOUT COST TO THE NEW YORK RESIDENT. ANY
   11  SUCH CERTIFICATE ISSUED TO A NEW YORK  RESIDENT  SHALL  STATE  THAT  THE
   12  INSURANCE  PROVIDED THEREUNDER IS NOT REGULATED BY THE STATE OF NEW YORK
   13  AND NOT SUBJECT TO CONSUMER PROTECTIONS OTHERWISE AFFORDED BY THIS CHAP-
   14  TER.
   15    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07939-01-5