Requires a notice of a change in premium for a renewal of a commercial insurance policy shall be mailed or delivered at least ninety days in advance of the expiration date of such policy.
STATE OF NEW YORK
________________________________________________________________________
4156
2025-2026 Regular Sessions
IN ASSEMBLY
January 31, 2025
___________
Introduced by M. of A. REILLY -- read once and referred to the Committee
on Insurance
AN ACT to amend the insurance law, in relation to requiring a notice for
renewal of certain policies be delivered at least ninety days prior to
the expiration of such policy
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph 3 of subsection (e) of section 3426 of the insur-
2 ance law, as amended by chapter 235 of the laws of 1989, is amended to
3 read as follows:
4 (3) The notice required by paragraph one of this subsection shall be
5 mailed or delivered at least sixty, but not more than one hundred twen-
6 ty, days in advance of the expiration date of the policy, except that:
7 (A) for an excess liability policy or a policy issued to a jumbo risk,
8 the notice shall be mailed or delivered at least thirty, but not more
9 than one hundred twenty, days in advance of the expiration date of the
10 policy; and
11 (B) for a notice of a new premium quote for a renewal of a policy
12 shall be mailed or delivered at least ninety days in advance of the
13 expiration date of such policy.
14 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03354-01-5
