Requires persons having claims under a life insurance policy to provide reasonable assistance to the insurer in obtaining information relating to misrepresentations made by the insured.
STATE OF NEW YORK
________________________________________________________________________
5245
2023-2024 Regular Sessions
IN ASSEMBLY
March 7, 2023
___________
Introduced by M. of A. STIRPE -- read once and referred to the Committee
on Insurance
AN ACT to amend the insurance law, in relation to representations by an
insured
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subsection (a) of section 3105 of the insurance law is
2 amended to read as follows:
3 (a) (1) A representation is a statement as to past or present fact,
4 made to the insurer by, or by the authority of, the applicant for insur-
5 ance or the prospective insured, at or before the making of the insur-
6 ance contract as an inducement to the making thereof. A misrepresen-
7 tation is a false representation, and the facts misrepresented are those
8 facts which make the representation false.
9 (2) Any person having or claiming a right under a life insurance poli-
10 cy that (A) provides a death benefit and (B) has been in force fewer
11 than two years following the date of issue or the date of reinstatement
12 if evidence of insurability is requested, shall provide reasonable
13 assistance to the insurer in obtaining the necessary information to
14 determine whether a misrepresentation was made by the applicant for
15 insurance or the prospective insured.
16 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00386-01-3
