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NY A01657
Bill
Status
1/17/2023
Primary Sponsor
Jeffrion Aubry
Click for details
AI Summary
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Amends insurance law to require motor vehicle insurers to offer premium reductions for comprehensive coverage on vehicles enrolled in the "Combat Auto Theft (C.A.T.) program" or other theft prevention programs established under vehicle and traffic law section 223.
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Applies to non-commercial private passenger automobile insurance rate schedules and rating plans in municipalities participating in eligible theft prevention programs.
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Modifies section 2342 of insurance law to include the new subsection (i) of section 2336 in provisions subject to expiration under the property/casualty insurance availability act.
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Takes effect immediately, with the new rate reduction requirement expiring in accordance with existing sunset provisions in insurance law section 2342.
Legislative Description
Requires that any schedule of rates or rating plan for non-commercial private passenger automobile insurance coverage submitted to the superintendent of financial services shall provide for an appropriate reduction in premium charges for any insured participating in an official police department program or other program designed to prevent or reduce motor vehicle theft.
Last Action
referred to insurance
1/3/2024