STATE OF NEW YORK
________________________________________________________________________
2705--A
Cal. No. 89
2011-2012 Regular Sessions
IN SENATE
January 28, 2011
___________
Introduced by Sens. SEWARD, KLEIN -- read twice and ordered printed, and
when printed to be committed to the Committee on Insurance -- reported
favorably from said committee, ordered to first and second report,
ordered to a third reading, amended and ordered reprinted, retaining
its place in the order of third reading
AN ACT to amend the insurance law, in relation to permitting insurers to
make available multiple rating programs for private passenger motor
vehicle insurance within the same company
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 2352
2 to read as follows:
3 § 2352. Multiple rating programs. (a) Subject to the superintendent's
4 prior approval, an insurer may establish more than one rating program
5 within the same company for policies of insurance that are subject to
6 section three thousand four hundred twenty-five of this chapter;
7 provided that:
8 (1) each rating program shall apply only to policies newly written on
9 or after the effective date of the rating program but prior to the
10 effective date of any subsequently approved rating program; provided
11 however if an insurer terminates a rating program, then the insurer
12 shall renew the policies that were subject to the terminated rating
13 program in a subsequently approved rating program.
14 (2) the provisions of subsection (f) of section three thousand four
15 hundred twenty-five and subsection (b) of section two thousand three
16 hundred forty-nine of this chapter shall be applied to each rating
17 program separately.
18 (b) The superintendent may promulgate rules and regulations to imple-
19 ment the provisions of this section.
20 § 2. This act shall take effect on the ninetieth day after it shall
21 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08794-02-1
