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NY A04173

Bill

Official Source

Status

Introduced

1/31/2025

Primary Sponsor

Michael Reilly

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Amends Section 2119 of the insurance law to add a new subsection (g) regarding insurance broker agreements

  • Allows companies to examine, appraise, review, or evaluate insurance policies, bonds, annuities, pension plans, and profit-sharing contracts without being bound by broker memorandums or contracts

  • Permits companies to receive recommendations and advice from insurance brokers without entering into binding agreements required under current law

  • 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

1/7/2026

Committee Referrals

Insurance1/31/2025

Full Bill Text

No bill text available