Insurance Committee Request for Comment
The legislation listed below is under consideration for
inclusion on a future Assembly Insurance Committee
agenda. In order to gather input on these bills, all
interested parties are invited to offer comments in
support or opposition to the bills listed below.
Suggestions for proposed language changes are also
welcome at this time.
All comments should be directed to
insurance@morelle.com. Thank you.
A.486 (Lafayette) - Requires
notice of
cancellation or non-renewal of property/casualty
insurance policies to be sent by an insurer to an
insured by registered or certified mail, return receipt
requested.
A.2482 (Morelle) - Modernizes
the regulation
of property/casualty insurance rates by authorizing file
and use in competitive markets; allows the
superintendent to impose prior approval of rates for
any market that is found to be non-competitive;
requires the superintendent to provide the statutory
basis for the disapproval of policy forms and rating
classification.
A.8343 (Sweeney) - Relates to
annuity
contracts with an equity index account; provides that
for contracts that provide a cash surrender benefit
prior to the commencement of annuity payments, the
death benefit attributable to any account, other than an
equity index account, shall not be less than the actual
accumulation amount, and the death benefit
attributable to an equity index account shall not be
less than the value of the equity index account; makes
related provisions.
A.10002 (Carrozza) - Protects
senior citizens
in purchase of annuities and puts restrictions on
advisors selling same, senior defined as person 70
years of age or older
A.10372 (Cymbrowitz) -
Departmental Bill
#218 (MTA); Extends owner controlled insurance
programs in certain instances
A.10401 (Morelle) -
Departmental Bill #319
(SID); Relates to the licensure of
life settlement brokers; creates certain crimes relating
to life settlement fraud; relates to premium finance
agreements.
Click the link below for recent Insurance news from
the Assembly.
Assembly Insurance Committee
About NYS Assemblyman Joseph D. Morelle
Since 1990, Assemblyman Joseph D. Morelle has
represented the 132nd Assembly District, which
includes portions of the city of Rochester and the
Monroe County suburbs of Irondequoit and Brighton.
In 2007, Joe was named chair of the Assembly
Standing Committee on Insurance.
