New York Assembly Bill A04668 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 4668--A Cal. No. 88 2023-2024 Regular Sessions  IN ASSEMBLY February 22, 2023 ___________ Introduced by M. of A. WEPRIN -- read once and referred to the Committee on Insurance -- advanced to a third reading, passed by Assembly and delivered to the Senate, recalled from the Senate, vote reconsidered, bill amended, ordered reprinted, retaining its place on the order of third reading AN ACT to amend the insurance law, in relation to using driving history as a rating or underwriting factor for private passenger motor vehicle insurance 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 2327 2 to read as follows: 3 § 2327. Verification of driving history. No insurer who utilizes an 4 applicant's driving history as a rating or underwriting factor for 5 private passenger motor vehicle insurance in this state shall bind a 6 policy of insurance, or accept a percentage of the annual premium due 7 for a policy, without first verifying such applicant's driving history, 8 as well as the driving history of all named-drivers that are used to 9 rate the policy and are listed by the applicant on the private passenger 10 motor vehicle insurance application, through the use of a third party 11 database. An insurer also shall verify, through a third party database, 12 the driving history of a named-driver used to rate the policy when added 13 during the policy period and shall verify the driving history of all 14 drivers used to rate the policy at policy renewal. 15 § 2. This act shall take effect on the ninetieth day after it shall 16 have become a law and shall apply to policies issued, renewed or modi- 17 fied on or after such date. Effective immediately, the addition, amend- 18 ment and/or repeal of any rule or regulation necessary for the implemen- 19 tation of this act on its effective date are authorized to be made and 20 completed on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09439-05-3