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NY A09812
Bill
Status
Introduced
4/19/2022
Primary Sponsor
Michael Reilly
Click for details
AI Summary
- Amends Section 2119 of the insurance law to add a new subsection (g)
- Exempts insurance companies from binding memorandums or contracts with insurance brokers when examining, appraising, reviewing, or evaluating insurance policies, bonds, annuities, and pension or profit-sharing plans
- Allows companies to make recommendations or provide advice regarding insurance products without contractual obligations to brokers
- Takes effect 60 days after becoming law
Legislative Description
Permits companies to assess various insurance quotes without having binding agreements with insurance brokers.
Last Action
referred to insurance
4/19/2022
Committee Referrals
Insurance4/19/2022
Full Bill Text
No bill text available