BILL NUMBER: S10581
SPONSOR: BAILEY
 
TITLE OF BILL:
An act to amend chapter 490 of the laws of 2017 amending the insurance
law relating to limits on certain supplementary insurance, in relation
to the effectiveness thereof
 
PURPOSE:
The purpose of this bill is to make certain that auto insurance consum-
ers are made aware of the benefits of supplementary
uninsured/underinsured motorist (SUM)coverage and to provide these
consumers with the option of declining such coverage.
 
SUMMARY OF PROVISIONS:
Section 1 would extend the provisions of chapter 490 of the laws of 2017
until June 30, 2026.
Section 2 would provide for an immediate effective date.
 
JUSTIFICATION:
Supplementary insurance, also known as uninsured or underinsured motor-
ist insurance, protects motorists who suffer severe and devastating
injuries in accidents with drivers who carry inadequate or no insurance.
Few drivers are aware of the value of supplementary insurance and insur-
ance companies rarely offer supplementary insurance coverage above the
statutory minimum. This bill will ensure that drivers are informed of
the availability of SUM coverage and can affirmatively elect the cover-
age that best meets their needs.
 
LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:;
None.
 
EFFECTIVE DATE:
This act shall take effect immediately.