STATE OF NEW YORK
________________________________________________________________________
4173
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 permitting companies
to assess various insurance quotes without having binding agreements
with insurance brokers
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2119 of the insurance law is amended by adding a
2 new subsection (g) to read as follows:
3 (g) No memorandum or contract required pursuant to subsection (a) of
4 this section shall be binding on any company for examining, appraising,
5 reviewing or evaluating any insurance policy, bond, annuity or pension
6 or profit-sharing contract, plan or program or for making recommenda-
7 tions or giving advice with regard to any of the above by an insurance
8 broker.
9 § 2. This act shall take effect on the sixtieth day after it shall
10 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03364-01-5
