Provides that the term "defined violation" shall mean the utilization by an insurer of credit information relating to a potential insured in determining the premium to be charged such insured.
STATE OF NEW YORK
________________________________________________________________________
5595
2011-2012 Regular Sessions
IN ASSEMBLY
February 23, 2011
___________
Introduced by M. of A. HAYES, CROUCH, FINCH, KOLB, RAIA -- Multi-Spon-
sored by -- M. of A. BURLING, CERETTO, GIGLIO, McDONOUGH, MONTESANO,
PALMESANO, REILICH, SAYWARD -- read once and referred to the Committee
on Insurance
AN ACT to amend the insurance law, in relation to prohibiting the use of
credit information in determining premiums
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2402 of the insurance law is amended by adding a
2 new subsection (b-1) to read as follows:
3 (b-1) "Defined violation" shall also mean the utilization by an insur-
4 er of a potential insured's credit information in determining the amount
5 of premium to be charged such insured.
6 § 2. This act shall take effect on the thirtieth day after it shall
7 have become a law, and shall apply to all applications for insurance or
8 renewals of insurance made on and after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08729-01-1
