|
| December
5, 2002 | October
21, 2002 | September
30, 2002 |
| Septermber 11, 2002
| October 31, 2001
| November 28, 2000
|
| November 7, 2000
| October 6, 2000
| August 1, 2000
| January 13, 2000
|
Enacted Law Bulletin
October 21, 2002
The following bills have recently been acted upon by the Governor. If you would like a complete copy of any of these bills either visit the “Bills & Laws” section of the Senate website at http://public.leginfo.state.ny.us/menuf.cgi and type in the bill number (e.g. A9181) or contact Stacey Gibson at sgibson@nyia.org or call the Association office at 518-432-4227.
| SEWARD – TRANSFER OF PCISF MONEY TO PMVLSR FUND Increases the amount of funds which are available for transfer
from the Property/ Casualty Insurance Security Fund (P/CISF) to
the Public Motor Vehicle Liability Security Fund (PMVLSF) from $10
million to $50 million to ensure the PMVLSF's ability to meet its
obligations and accomplish its purpose to pay claims of victims
of accidents involving vehicles for hire where the vehicle is insured
by an insurer that subsequently becomes insolvent. (Same as A 500-A
Lafayette)
|
|||
| VELELLA – DMV IIES FOR-HIRE VEHICLE CANCELLATIONS Provides that an insurance policy or bond covering a for-hire motor vehicle shall expire 20 days after notice of expiration to the Commissioner of Motor Vehicles. With the advent of the Insurance Information Enforcement System (IIES), certain reporting problems have become apparent. For example, for hire vehicles are treated differently from private passenger automobile vehicles and other commercial vehicles when replacement coverage is obtained. As a result of Section 370 (b) of the Vehicle and Traffic Law, coverage does not expire until 45 days after the Commissioner of Motor Vehicles has been notified of the termination. Because notices are now electronic, the 45 day prior notice is no longer necessary. This change conforms the Vehicle and Traffic Law to the requirements of the Insurance Law (note: Insurance Law protection for policyholders still applies as these protect the policy holder from arbitrary midterm cancellations and require prior notice of non-renewal of a policy). This bill also allows IIES to reflect the actual date insurance coverage is replaced with another insurance carrier. Currently, the strict reading of the law requires prior notice to the Commissioner of Motor Vehicles even when the policyholder has replaced coverage with another insurance company. This does not make any sense and the old policy should be able to expire at the same time the new coverage begins. Additionally, in the situation of a total loss, the expiration date should be the date when the plates of the for-hire vehicle have been turned in. (Same as Lafayette A 10491-A and A 7051-A) Last Act: 10/02/02 SIGNED CHAPTER 613
|