BILL NUMBER: S7748C
SPONSOR: BRESLIN
TITLE OF BILL:
An act to amend the insurance law, in relation to wireless communi-
cations equipment insurance
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to authorize the sale of wireless communi-
cations equipment protection plans by licensed wireless communication
equipment vendors.
SUMMARY OF SPECIFIC PROVISIONS: This bill would authorize licensed
wireless communication equipment vendors to sell policies of wireless
communication equipment insurance with service contracts under wireless
communications equipment protection plans, along with optional equipment
upgrade programs, technical support, and other services the superinten-
dent deems to be meaningful and appropriate provided that the vendor at
the same time also offers consumers the wireless communication equipment
insurance on a stand-alone basis.
JUSTIFICATION:
Now more than ever, New Yorkers rely upon wireless communication equip-
ment to operate their daily lives and remain connected to work, family,
friends, and emergency services. Given the reliance upon and cost asso-
ciated with these devices, New Yorkers need access to comprehensive
protection plans that ensure timely and full repairs or replacements of
their devices in the face of a loss, mechanical breakdown, or theft.
Currently, New Yorkers must buy insurance, covering loss and theft, and
service contracts, covering mechanical breakdown and accidental damages,
separately to get full coverage. This legislation brings New York in
alignment with the rest of the country by allowing companies to offer
New Yorkers a comprehensive and all-encompassing wireless communication
equipment protection plan, that includes all the benefits and coverages
of both an insurance policy and service contract component at one clear
and straightforward price. New Yorkers will also be provided the oppor-
tunity to purchase the wireless communications equipment insurance on a
stand-alone basis at the time of purchase or upon termination of the
wireless communication equipment protection plan by the company. This
will allow for more options at time of purchase and the comprehensive
coverage New Yorkers seek.
PRIOR LEGISLATIVE HISTORY:
This is a new bill.
FISCAL IMPLICATIONS:
None.
EFFECTIVE DATE:
This act shall take effect on the 180th day after it shall have become a
law.
Statutes affected: S7748: 3449 insurance law
S7748A: 3449 insurance law
S7748B: 3449 insurance law
S7748C: 3449 insurance law