Bill Text: NY A09762 | 2019-2020 | General Assembly | Introduced

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Bill Title: Requires that an insurer participating in the assigned risk plan shall review the risk profiles of each policy holder that has been assigned to such insurer through the plan to determine if such policy holders are eligible for motor vehicle insurance coverage written by such insurer in the voluntary market.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2020-03-05 - advanced to third reading cal.470 [A09762 Detail]

Download: New_York-2019-A09762-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9762

                   IN ASSEMBLY

                                    February 10, 2020
                                       ___________

        Introduced  by M. of A. VANEL -- read once and referred to the Committee
          on Insurance

        AN ACT to amend the insurance law, in relation to certain policy review

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The insurance law is amended by adding a new section 5305
     2  to read as follows:
     3    § 5305. Policy review. (a) Within ninety days after the effective date
     4  of this section and every two years thereafter, an insurer participating
     5  in the assigned risk plan pursuant to this article shall review the risk
     6  profiles of each policy holder that has been assigned  to  such  insurer
     7  through  the  plan  to determine if such policy holders are eligible for
     8  motor vehicle insurance coverage written by such insurer in  the  volun-
     9  tary  market.  Such  insurer  shall,  upon  renewal, write motor vehicle
    10  insurance coverage in the voluntary market for any policy holder  deter-
    11  mined to be eligible for such coverage.
    12    (b)  An  insurer  shall  send written notice of the review required by
    13  subsection (a) of this section to each policy  holder  at  least  thirty
    14  days  prior to the date that such review is conducted. Such notice shall
    15  also inform each policy holder of a policy holder's right to search  for
    16  and obtain coverage on the voluntary market at any time.
    17    (c)  An insurer shall also send written notice of the determination of
    18  eligibility for coverage  in  the  voluntary  market  made  pursuant  to
    19  subsection  (a) of this section to a policy holder within ten days after
    20  such determination is made.
    21    (d) Any person insured pursuant to this article may file  a  complaint
    22  with  the  superintendent  regarding  any  violations of this section by
    23  insurers participating in the assigned risk plan.
    24    § 2. Section 309 of the insurance law  is  amended  by  adding  a  new
    25  subsection (d) to read as follows:
    26    (d)  As part of an examination, the superintendent shall review deter-
    27  minations made pursuant to section five thousand three hundred  five  of
    28  this chapter regarding the eligibility of policy holders for coverage on
    29  the  voluntary  market  to  ensure  such  determinations   are issued in

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15097-02-0
        A. 9762                             2

     1  compliance with such section, that  such  determinations  are  based  on
     2  sound  underwriting  and  actuarial  principles  and that policy holders
     3  eligible for coverage in the voluntary market are  being  provided  with
     4  such coverage in compliance with such section.
     5    § 3. This act shall take effect immediately.