STATE OF NEW YORK ________________________________________________________________________ 948 2023-2024 Regular Sessions IN ASSEMBLY January 11, 2023 ___________ Introduced by M. of A. JACOBSON -- read once and referred to the Commit- tee on Insurance AN ACT to amend the vehicle and traffic law and the insurance law, in relation to increasing the minimum insurance coverage required for motor vehicles registered and/or operated within the state of New York The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 4 and subdivision 7 of section 2 311 of the vehicle and traffic law, paragraph (a) of subdivision 4 as 3 amended by chapter 305 of the laws of 1995 and subdivision 7 as amended 4 by chapter 805 of the laws of 1984, are amended to read as follows: 5 (a) Affording coverage as defined in the minimum provisions prescribed 6 in a regulation which shall be promulgated by the superintendent at 7 least ninety days prior to effective date of this act. The superinten- 8 dent before promulgating such regulations or any amendment thereof, 9 shall consult with all insurers licensed to write automobile liability 10 insurance in this state and shall not prescribe minimum provisions which 11 fail to reflect the provisions of automobile liability insurance poli- 12 cies, other than motor vehicle liability policies as defined in section 13 three hundred forty-five of this [chapter] title, issued within this 14 state at the date of such regulation or amendment thereof. Nothing 15 contained in such regulation or in this article shall prohibit any 16 insurer from affording coverage under an owner's policy of liability 17 insurance more liberal than that required by said minimum provisions. 18 Every such owner's policy of liability insurance shall provide insurance 19 subject to said regulation against loss from the liability imposed by 20 law for damages, including damages for care and loss of services, 21 because of bodily injury to or death of any person and injury to or 22 destruction of property arising out of the ownership, maintenance, use, 23 or operation of a specific motor vehicle or motor vehicles within the 24 state of New York, or elsewhere in the United States in North America or EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02528-01-3
A. 948 2 1 the Dominion of Canada, subject to a limit, exclusive of interest and 2 costs, with respect to each such motor vehicle except a tow truck, of 3 [twenty-five] fifty thousand dollars because of bodily injuries to and 4 [fifty] one hundred thousand dollars because of death of one person in 5 any one accident and, subject to said limit for one person, to a limit 6 of [fifty] one hundred thousand dollars because of bodily injury to and 7 [one] two hundred thousand dollars because of death of two or more 8 persons in any one accident, and to a limit of [ten] twenty-five thou- 9 sand dollars because of injury to or destruction of property of others 10 in any one accident provided, however, that such policy need not be for 11 a period coterminous with the registration period of the vehicle 12 insured. The limit, exclusive of interest and costs, with respect to a 13 tow truck shall be a combined single limit of at least three hundred 14 thousand dollars because of bodily injury or death to one or more 15 persons or because of injury or destruction of property of others in any 16 one accident, and to a limit of twenty-five thousand dollars because of 17 damage to a vehicle in the care, custody and control of the insured. Any 18 insurer authorized to issue an owner's policy of liability insurance as 19 provided for in this article may, pending the issue of such a policy, 20 make an agreement, to be known as a binder, or may, in lieu of such a 21 policy, issue a renewal endorsement or evidence of renewal of an exist- 22 ing policy; each of which shall be construed to provide indemnity or 23 protection in like manner and to the same extent as such a policy. The 24 provisions of this article shall apply to such binders, renewal endorse- 25 ments or evidences of renewal. Every such policy issued insuring private 26 passenger vehicles and every renewal policy, renewal endorsement, or 27 other evidence of renewal issued shall have attached thereto a rating 28 information form which clearly specifies and defines the rating classi- 29 fication assigned thereto, including any applicable merit rating plan; 30 and 31 7. The term "financial security deposit" shall mean for each motor 32 vehicle the deposit with the commissioner of [twenty-five] fifty thou- 33 sand dollars in cash, or securities, such as may legally be purchased by 34 savings banks or trust funds, of a market value of [twenty-five] fifty 35 thousand dollars and an additional deposit in an amount determined by 36 the commissioner to be sufficient to satisfy the requirements of article 37 fifty-one of the insurance law. 38 § 2. Paragraph 3 of subdivision (b) of section 345 of the vehicle and 39 traffic law, as amended by chapter 305 of the laws of 1995, is amended 40 to read as follows: 41 (3) Shall insure the insured or such other person against loss from 42 the liability imposed by law for damages, including damages for care and 43 loss of services because of bodily injury to or death of any person and 44 injury to or destruction of property arising out of the ownership, main- 45 tenance, use, or operation of such motor vehicle or motor vehicles with- 46 in the state of New York, or elsewhere in the United States in North 47 America or the Dominion of Canada, subject to a limit, exclusive of 48 interest and cost, with respect to each such motor vehicle, except a tow 49 truck, of [twenty-five] fifty thousand dollars because of bodily injury 50 to or [fifty] one hundred thousand dollars because of death of one 51 person in any one accident and, subject to said limit for one person, to 52 a limit of [fifty] one hundred thousand dollars because of bodily injury 53 to or [one] two hundred thousand dollars because of death of two or more 54 persons in any one accident, and to a limit of [ten] twenty-five thou- 55 sand dollars because of injury to or destruction of property of others 56 in any one accident. The limit, exclusive of interest and costs, with
A. 948 3 1 respect to a tow truck shall be a combined single limit of three hundred 2 thousand dollars because of bodily injury of death to one or more 3 persons or because of injury or destruction of property of others in any 4 one accident, and to a limit of twenty-five thousand dollars because of 5 damage to a vehicle in the care, custody and control of the insured. 6 § 3. Paragraph 1 of subsection (f) of section 3420 of the insurance 7 law, as amended by section 19 of part III of chapter 59 of the laws of 8 2019, is amended to read as follows: 9 (1) No policy insuring against loss resulting from liability imposed 10 by law for bodily injury or death suffered by any natural person arising 11 out of the ownership, maintenance and use of a motor vehicle or an 12 altered motor vehicle commonly referred to as a "stretch limousine" 13 having a seating capacity of eight or more passengers used in the busi- 14 ness of carrying or transporting passengers for hire, by the insured 15 shall be issued or delivered by any authorized insurer upon any motor 16 vehicle or an altered motor vehicle commonly referred to as a "stretch 17 limousine" having a seating capacity of eight or more passengers used in 18 the business of carrying or transporting passengers for hire, then prin- 19 cipally garaged or principally used in this state unless it contains a 20 provision whereby the insurer agrees that it will pay to the insured, as 21 defined in such provision, subject to the terms and conditions set forth 22 therein to be prescribed by the board of directors of the Motor Vehicle 23 Accident Indemnification Corporation and approved by the superintendent, 24 all sums, not exceeding a maximum amount or limit of [twenty-five] fifty 25 thousand dollars exclusive of interest and costs, on account of injury 26 to and all sums, not exceeding a maximum amount or limit of [fifty] one 27 hundred thousand dollars exclusive of interest and costs, on account of 28 death of one person, in any one accident, and the maximum amount or 29 limit, subject to such limit for any one person so injured of [fifty] 30 one hundred thousand dollars or so killed of [one] two hundred thousand 31 dollars, exclusive of interest and costs, on account of injury to, or 32 death of, more than one person in any one accident, which the insured or 33 his legal representative shall be entitled to recover as damages from an 34 owner or operator of an uninsured motor vehicle, unidentified motor 35 vehicle which leaves the scene of an accident, a motor vehicle regis- 36 tered in this state as to which at the time of the accident there was 37 not in effect a policy of liability insurance, a stolen vehicle, a motor 38 vehicle operated without permission of the owner, an insured motor vehi- 39 cle where the insurer disclaims liability or denies coverage or an 40 unregistered vehicle because of bodily injury, sickness or disease, 41 including death resulting therefrom, sustained by the insured, caused by 42 accident occurring in this state and arising out of the ownership, main- 43 tenance or use of such motor vehicle. No payment for non-economic loss 44 shall be made under such policy provision to a covered person unless 45 such person has incurred a serious injury, as such terms are defined in 46 section five thousand one hundred two of this chapter. Such policy shall 47 not duplicate any element of basic economic loss provided for under 48 article fifty-one of this chapter. No payments of first party benefits 49 for basic economic loss made pursuant to such article shall diminish the 50 obligations of the insurer under this policy provision for the payment 51 of non-economic loss and economic loss in excess of basic economic loss. 52 Notwithstanding any inconsistent provisions of section three thousand 53 four hundred twenty-five of this article, any such policy which does not 54 contain the aforesaid provisions shall be construed as if such 55 provisions were embodied therein.
A. 948 4 1 § 4. Subsection (a) of section 5210 of the insurance law, as amended 2 by chapter 305 of the laws of 1995, is amended to read as follows: 3 (a) When any qualified person who has complied with all the applicable 4 requirements of this article recovers a final judgment in a court 5 against a financially irresponsible motorist, for injury to, or death 6 of, any person arising out of the ownership, maintenance or use of the 7 uninsured motor vehicle in this state, which remains unpaid, and all 8 appeals have been concluded or the time for commencing them has expired, 9 the judgment creditor may file a verified petition in the court in which 10 the judgment was entered and, upon ten days' written notice to the 11 corporation apply to the court for an order directing payment by the 12 corporation of the amount unpaid on the judgment. However, there shall 13 be no right of recovery by a covered person from the corporation for 14 non-economic loss unless such person has incurred a serious injury, as 15 such terms are defined in section five thousand one hundred two of this 16 chapter. Such judgment exclusive of interest and costs shall not 17 exceed: 18 (1) [twenty-five] fifty thousand dollars on account of injury to one 19 person in any one accident, and 20 (2) [fifty] one hundred thousand dollars on account of death to one 21 person in any one accident, and 22 (3) [fifty] one hundred thousand dollars on account of injury to more 23 than one person in any one accident subject to the limit of [twenty- 24 five] fifty thousand dollars for any one person, and 25 (4) [one] two hundred thousand dollars on account of death to more 26 than one person in any one accident subject to the limit of [fifty] one 27 hundred thousand dollars for any one person. 28 § 5. This act shall take effect immediately.