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NY A08414
Bill
Status
11/8/2021
Primary Sponsor
Catalina Cruz
Click for details
AI Summary
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Requires all insurers issuing renters insurance policies to accept municipal identification cards or other state/local government-issued identification cards in place of a social security number
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Permits insurers to require a notarized copy of the rental lease signed by the property owner, property management firm, and insured as proof of identity
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Mandates that renters insurance premiums be based on sound underwriting and actuarial principles
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Requires insurers to offer policyholders three payment options: one full payment, twelve monthly payments, or biannual payments
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Takes effect immediately upon enactment
Legislative Description
Relates to alternative forms of identification for renters insurance, including a municipal identification card, or other state or local government-issued identification card, or a notarized copy of the rental lease signed by the property owner, the property management firm and the insured.
Last Action
referred to insurance
1/5/2022