Prohibits insurer from increasing auto insurance premiums upon renewal for persons 60 years of age or over based solely on the ground of the insured's age.
Summary
This bill would amend New York’s Insurance Law to prohibit insurers from refusing to issue or renew a covered policy solely because of an applicant’s or insured’s age. Its main new provision applies specifically to automobile insurance: an insurer could not increase the premium at renewal for an existing auto policy solely because the insured is 60 years of age or older.
The bill is limited in scope to age-based underwriting and renewal decisions. It does not bar premium increases for other lawful reasons, nor does it change coverage requirements or benefits. It would take effect on January 1 following enactment and would apply to policy renewals issued on or after that date.
Impact
If enacted, the bill would amend section 3425 of the Insurance Law to add explicit protection for older drivers against age-only premium increases on auto insurance renewals. It would also reinforce the existing rule that insurers may not refuse to issue or renew a covered policy solely based on advanced age. The practical effect would be to limit insurers’ ability to use age alone as a basis for renewal pricing decisions for insureds age 60 and over, while leaving other rating factors and underwriting criteria intact.
Sentiment
No committee transcript or recorded vote information was provided, so there is no direct evidence of debate or formal support/opposition in the available materials. Based on the bill text and caption, the measure appears to be framed as a consumer-protection bill aimed at older drivers, suggesting a generally favorable policy posture toward preventing age-based insurance discrimination.
Contention
The central point of contention would likely be whether prohibiting age-only premium increases interferes with insurers’ ability to price risk accurately for older drivers. Supporters would likely emphasize fairness and protection against discrimination for seniors, while opponents may argue that age can correlate with risk and that the bill could constrain actuarial pricing. The bill does not address those broader policy questions directly, and no specific objections are documented in the provided record.
Same As
Prohibits insurer from increasing auto insurance premiums upon renewal for persons 60 years of age or over based solely on the ground of the insured's age.
Prohibits insurer from increasing auto insurance premiums upon renewal for persons 60 years of age or over based solely on the ground of the insured's age.
Prohibits insurer from increasing auto insurance premiums upon renewal for persons 60 years of age or over based solely on the ground of the insured's age.
Prohibits casualty insurers from assessing any premium surcharge or penalty against an insured solely for inquiring about the terms of the insured's policy.
Prohibits casualty insurers from assessing any premium surcharge or penalty against an insured solely for inquiring about the terms of the insured's policy.