Bill Text: NY S04082 | 2025-2026 | General Assembly | Introduced

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Bill Title: Prohibits motor vehicle insurers from discrimination on the basis of socioeconomic factors in determining algorithms used to construct actuarial tables, coverage terms, premiums and/or rates.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced) 2025-01-31 - REFERRED TO INSURANCE [S04082 Detail]

Download: New_York-2025-S04082-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4082

                               2025-2026 Regular Sessions

                    IN SENATE

                                    January 31, 2025
                                       ___________

        Introduced  by Sens. PARKER, COMRIE, FERNANDEZ -- read twice and ordered
          printed, and when printed to be committed to the Committee  on  Insur-
          ance

        AN  ACT  to  amend  the  insurance law, in relation to prohibiting motor
          vehicle insurers from discriminating based on socioeconomic factors

          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 2619
     2  to read as follows:
     3    § 2619. Rating factors prohibited. (a) Any insurer or insurance compa-
     4  ny group doing business in the state as a motor vehicle insurer may  not
     5  use  classification plans, rules or rates, rating plans or modifications
     6  of any of the foregoing, based in whole or in part on the factors speci-
     7  fied in this section. Any classification plans, rules or  rates,  rating
     8  plans or modifications issued by said insurer or insurance company group
     9  using  the  following  factors  in  whole  or in part shall be deemed to
    10  violate public policy and are subject to disapproval by the  superinten-
    11  dent:
    12    (1) age;
    13    (2) marital status;
    14    (3) sex;
    15    (4) sexual orientation;
    16    (5) educational background or education level attained;
    17    (6) employment status or occupation;
    18    (7) income level;
    19    (8) consumer credit information or score;
    20    (9) ownership or interest in real property;
    21    (10) any indication of a consumer's price elasticity of demand; and
    22    (11)  any  other  characteristic indicating or tending to indicate the
    23  socioeconomic status of an individual.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02978-02-5
        S. 4082                             2

     1    (b) It shall further be unlawful to consider the factors specified  in
     2  subdivision (a) of this section to:
     3    (1)  adjust  any  algorithm  or  equation  used to construct actuarial
     4  tables or otherwise determine the cost of coverage;
     5    (2) make any distinction or discrimination between persons as  to  the
     6  premiums  or  rates  charged for motor vehicle insurance policies or the
     7  terms of coverage or in any other manner whatsoever;
     8    (3) demand or require a greater premium  from  any  person  than  such
     9  insurer  requires  at  that  time  from other individuals or entities in
    10  similar cases; or
    11    (4) refuse to issue, renew, or sell a policy after appropriate  appli-
    12  cation therefor.
    13    § 2. This act shall take effect immediately.