Bill Text: NY A02406 | 2023-2024 | General Assembly | Introduced
Bill Title: Prohibits insurer from increasing auto insurance premiums upon renewal for persons 60 years of age or over based solely on the ground of the insured's age.
Spectrum: Bipartisan Bill
Status: (Introduced) 2024-01-03 - referred to insurance [A02406 Detail]
Download: New_York-2023-A02406-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2406 2023-2024 Regular Sessions IN ASSEMBLY January 26, 2023 ___________ Introduced by M. of A. COLTON, MILLER, McDONOUGH -- Multi-Sponsored by -- M. of A. SIMON -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to prohibiting the increase of premiums or failure to renew automobile insurance policies for persons 60 years of age or over The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (i) of section 3425 of the insurance law is 2 amended to read as follows: 3 (i) (1) No insurer shall refuse to issue or renew a covered policy 4 solely on the ground of the advanced age of the applicant or insured. 5 (2) With respect to automobile insurance policies, no insurer shall 6 increase the premium billed to an insured who is sixty years of age or 7 over for the renewal of an existing policy solely on the ground of the 8 age of the insured. 9 § 2. This act shall take effect on the first of January next succeed- 10 ing the date on which it shall have become a law and shall apply to 11 renewals of policies issued on and after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00900-01-3
