Relates to alternative forms of identification for renters insurance, including a municipal identification card, or other state or local government-issued identification card, or a notarized copy of the rental lease signed by the property owner, the property management firm and the insured.
STATE OF NEW YORK
________________________________________________________________________
5899
2023-2024 Regular Sessions
IN SENATE
March 22, 2023
___________
Introduced by Sen. BRISPORT -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance
AN ACT to amend the insurance law, in relation to alternative forms of
identification for renters insurance
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The insurance law is amended by adding a new section 3422
2 to read as follows:
3 § 3422. Renters insurance; alternative forms of identification.
4 Notwithstanding any other provision of this chapter or any other law to
5 the contrary, every insurer issuing a policy or contract for renters
6 insurance, shall accept, in lieu of a social security number, a munici-
7 pal identification card, or other state or local government-issued iden-
8 tification card. The insurer may also require, as proof of identity, a
9 notarized copy of the rental lease signed by the property owner, the
10 property management firm and the insured. The premium for such policy or
11 contract which insures renters shall be based on sound underwriting and
12 actuarial principles. Insurers shall provide insureds with the option to
13 pay such renters insurance premium in one full payment, in twelve month-
14 ly payments, or by biannual payments.
15 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02052-01-3
