STATE OF NEW YORK
        ________________________________________________________________________
                                          4969
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 6, 2019
                                       ___________
        Introduced  by  M.  of  A.  RAIA, FINCH -- read once and referred to the
          Committee on Insurance
        AN ACT to amend the insurance law, in relation to requiring full disclo-
          sure of the amount and duration of assessments in insurance policies
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section  3102 of the insurance law is amended by adding a
     2  new subsection (g) to read as follows:
     3    (g) Each insurance policy, or renewal thereof, made, issued or  deliv-
     4  ered  in  this  state  on a risk located or resident in this state shall
     5  identify any and all assessments made pursuant to such policy  as  being
     6  assessments, and shall specify on its declarations page:
     7    (1)  the  amount of the assessment for the immediate policy period and
     8  in total;
     9    (2) the method by which the assessment is calculated;
    10    (3) the total years for which the assessment is levied; and
    11    (4) the number of years remaining during which the assessment shall be
    12  levied.
    13    § 2. This act shall take effect on the first of January next  succeed-
    14  ing the date on which it shall have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07857-01-9