New York A 1192: Relates to enacting the "New York city small business rent stabilization act"

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A01192 Summary:

BILL NOA01192 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORSimon (MS)

&nbsp

COSPNSRJacobson

&nbsp

MLTSPNSRDavila

&nbsp

Amd §311, V & T L; amd §5210, Ins L

&nbsp

Relates to an owner's policy of liability insurance; increases the limits for liability arising out of bodily injury to or death of any person.

Go to top A01192 Actions:

BILL NOA01192 

&nbsp

01/09/2025referred to insurance

01/07/2026referred to insurance

Go to topA01192 Committee&nbspVotes:

Go to topA01192 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA01192 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1192

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 9, 2025
 ___________

 Introduced by M. of A. SIMON, JACOBSON -- Multi-Sponsored by -- M. of A.
 DAVILA -- read once and referred to the Committee on Insurance

 AN ACT to amend the vehicle and traffic law and the insurance law, in
 relation to owner's policy of liability insurance

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph (a) of subdivision 4 of section 311 of the vehi-
 2 cle and traffic law, as amended by chapter 305 of the laws of 1995, is
 3 amended to read as follows:
 4 (a) Affording coverage as defined in the minimum provisions prescribed
 5 in a regulation which shall be promulgated by the superintendent at
 6 least ninety days prior to effective date of this act. The superinten-
 7 dent before promulgating such regulations or any amendment thereof,
 8 shall consult with all insurers licensed to write automobile liability
 9 insurance in this state and shall not prescribe minimum provisions which
 10 fail to reflect the provisions of automobile liability insurance poli-
 11 cies, other than motor vehicle liability policies as defined in section
 12 three hundred forty-five of this chapter, issued within this state at
 13 the date of such regulation or amendment thereof. Nothing contained in
 14 such regulation or in this article shall prohibit any insurer from
 15 affording coverage under an owner's policy of liability insurance more
 16 liberal than that required by said minimum provisions. Every such
 17 owner's policy of liability insurance shall provide insurance subject to
 18 said regulation against loss from the liability imposed by law for
 19 damages, including damages for care and loss of services, because of
 20 bodily injury to or death of any person and injury to or destruction of
 21 property arising out of the ownership, maintenance, use, or operation of
 22 a specific motor vehicle or motor vehicles within the state of New York,
 23 or elsewhere in the United States in North America or the Dominion of
 24 Canada, subject to a limit, exclusive of interest and costs, with
 25 respect to each such motor vehicle except a tow truck, of [twenty-five]

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01979-01-5

 A. 1192 2

 1 two hundred thousand dollars because of bodily injuries to and [fifty]
 2 three hundred thousand dollars because of death of one person in any one
 3 accident and, subject to said limit for one person, to a limit of
 4 [fifty] three hundred thousand dollars because of bodily injury to and
 5 [one] four hundred thousand dollars because of death of two or more
 6 persons in any one accident, and to a limit of [ten] twenty-five thou-
 7 sand dollars because of injury to or destruction of property of others
 8 in any one accident provided, however, that such policy need not be for
 9 a period coterminous with the registration period of the vehicle
 10 insured. The limit, exclusive of interest and costs, with respect to a
 11 tow truck shall be a combined single limit of at least three hundred
 12 thousand dollars because of bodily injury or death to one or more
 13 persons or because of injury or destruction of property of others in any
 14 one accident, and to a limit of twenty-five thousand dollars because of
 15 damage to a vehicle in the care, custody and control of the insured. Any
 16 insurer authorized to issue an owner's policy of liability insurance as
 17 provided for in this article may, pending the issue of such a policy,
 1