A03660 Summary:

BILL NOA03660
 
SAME ASNo same as
 
SPONSORCamara (MS)
 
COSPNSRCastro, Barron
 
MLTSPNSR
 
Amd S3425, Ins L
 
Prohibits automobile insurers from considering an applicant's or insured's credit history, credit rating or lack of a credit history as a factor in the underwriting, rating, premiums, or the decision of issuance or renewal of any automobile insurance policy to such applicant or insured.
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A03660 Actions:

BILL NOA03660
 
01/26/2011referred to insurance
01/04/2012referred to insurance
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A03660 Floor Votes:

There are no votes for this bill in this legislative session.
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A03660 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3660
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 26, 2011
                                       ___________
 
        Introduced  by M. of A. CAMARA, CASTRO, BARRON -- read once and referred
          to the Committee on Insurance
 
        AN ACT to amend the insurance law, in relation to prohibiting automobile
          insurers from using an applicant's or insured's credit history in  the
          underwriting, rating or premiums for a policy of automobile insurance
 

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 3425 of the insurance law is amended  by  adding  a
     2  new subsection (s) to read as follows:
     3    (s)  No  insurer  shall use an applicant's or insured's credit rating,
     4  credit history or lack of a credit history as a factor in the underwrit-
     5  ing of, rating of, premiums for or the decision  to  issue  or  renew  a
     6  covered policy for automobile insurance to such applicant or insured.
     7    §  2.  This  act shall take effect on the thirtieth day after it shall
     8  have become a law and shall apply  to  all  policies,  issued,  renewed,
     9  modified or altered on or after such date.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.
                                                                   LBD04319-01-1
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