Bill Text: NY A06287 | 2011-2012 | General Assembly | Amended

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Bill Title: Relates to motor vehicle liability insurance rates.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-01-04 - referred to insurance [A06287 Detail]

Download: New_York-2011-A06287-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        6287--B
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 11, 2011
                                      ___________
       Introduced  by M. of A. MORELLE -- read once and referred to the Commit-
         tee on  Insurance  --  committee  discharged,  bill  amended,  ordered
         reprinted  as  amended  and  recommitted  to  said  committee -- again
         reported from said committee with  amendments,  ordered  reprinted  as
         amended and recommitted to said committee
       AN  ACT to amend the insurance law, in relation to motor vehicle liabil-
         ity insurance rates
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subsection  (a)  of section 2335 of the insurance law, as
    2  amended by chapter 277 of the laws  of  2010,  is  amended  to  read  as
    3  follows:
    4    (a)(1)  WITH  RESPECT  TO  POLICIES  ISSUED, MODIFIED OR RENEWED ON OR
    5  AFTER NOVEMBER TWENTY-SEVENTH, TWO THOUSAND TEN AND PRIOR TO JULY FIRST,
    6  TWO THOUSAND ELEVEN AND ANY RENEWALS THEREOF WITH RESPECT TO  ANY  ACCI-
    7  DENT  WHICH OCCURRED PRIOR TO JULY FIRST, TWO THOUSAND ELEVEN has had an
    8  accident that does not result in aggregate damage to property in  excess
    9  of  two  thousand  dollars,  provided that any policy surcharge shall be
   10  permissible for any accident which results in bodily injury  or  if  the
   11  insured  has more than one accident in the merit rating experience peri-
   12  od. Nothing in this subsection shall change the  dollar  amount  of  the
   13  accident reporting threshold required under paragraph one of subdivision
   14  (a) of section six hundred five of the vehicle and traffic law; AND
   15    (2) WITH RESPECT TO POLICIES ISSUED OR RENEWED ON OR AFTER JULY FIRST,
   16  TWO  THOUSAND  ELEVEN  HAS  HAD  AN ACCIDENT ON OR AFTER JULY FIRST, TWO
   17  THOUSAND ELEVEN THAT DOES NOT RESULT IN AGGREGATE DAMAGE TO PROPERTY  IN
   18  EXCESS OF TWO THOUSAND DOLLARS, PROVIDED THAT ANY POLICY SURCHARGE SHALL
   19  BE PERMISSIBLE FOR ANY ACCIDENT WHICH RESULTS IN BODILY INJURY OR IF THE
   20  INSURED  HAS  MORE  THAN  ONE  ACCIDENT  IN  THE MERIT RATING EXPERIENCE
   21  PERIOD.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD08541-08-1
       A. 6287--B                          2
    1    (3) THE SUPERINTENDENT MAY, PURSUANT TO REGULATION, INCREASE  THE  TWO
    2  THOUSAND  DOLLAR  THRESHOLD  FOR INFLATION OR ANY OTHER REASON FOR WHICH
    3  THE SUPERINTENDENT DETERMINES THE INCREASE TO BE REASONABLE  AND  APPRO-
    4  PRIATE.  WHENEVER  THE  SUPERINTENDENT  INCREASES  THE  THRESHOLD,  SUCH
    5  INCREASE  SHALL  APPLY  TO ACCIDENTS OCCURRING ON OR AFTER THE EFFECTIVE
    6  DATE OF THE REGULATION. NOTHING IN  THIS  SUBSECTION  SHALL  CHANGE  THE
    7  DOLLAR  AMOUNT  OF THE ACCIDENT REPORTING THRESHOLD REQUIRED UNDER PARA-
    8  GRAPH ONE OF SUBDIVISION (A) OF SECTION SIX HUNDRED FIVE OF THE  VEHICLE
    9  AND TRAFFIC LAW.
   10    S  2.  This act shall take effect immediately; provided, however, that
   11  the amendments to subsection (a) of section 2335 of  the  insurance  law
   12  made  by section one of this act shall not affect the expiration of such
   13  section and shall be deemed to expire therewith.