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NY A03189
Bill
Status
Introduced
2/2/2023
Primary Sponsor
Michael Reilly
Click for details
AI Summary
- Amends Section 2119 of the New York Insurance Law by adding subsection (g)
- Exempts insurance companies from binding memorandums or contracts with insurance brokers for examining, appraising, reviewing, or evaluating insurance policies, bonds, annuities, or pension or profit-sharing contracts, plans, or programs
- Allows companies to make recommendations or give advice regarding these insurance products without being bound by broker agreements
- Takes effect on the sixtieth day after becoming law
Legislative Description
Permits companies to assess various insurance quotes without having binding agreements with insurance brokers.
Last Action
referred to insurance
1/3/2024
Committee Referrals
Insurance2/2/2023
Full Bill Text
No bill text available