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NY S07855
Bill
Status
Introduced
10/11/2012
Primary Sponsor
Kenneth LaValle
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AI Summary
- Amends navigation law to require insurance carriers to grant minimum rate reductions of 10% for completion of a boating safety course or 15% for completion of an advanced boating safety course, with approval from the Department of Financial Services
- Requires boat liability insurance rate schedules submitted to the superintendent to include appropriate premium reductions for insureds who complete approved boating safety or advanced boating safety courses
- Excludes courses taken pursuant to navigation law sections 45 or 49 as a result of boating infractions from triggering the rate reduction requirement
- Defines "boat" for purposes of the bill as any residential or pleasure vessel that is not a crew racing shell
- Takes effect immediately and applies to all policies and contracts issued, renewed, modified or altered on or after the effective date
Legislative Description
Requires liability insurance rate reductions of 10% upon completion of a boating safety course or 15% upon completion of an advanced boating safety course.
Last Action
REFERRED TO RULES
10/11/2012
Committee Referrals
Rules10/11/2012
Full Bill Text
No bill text available