May 30, 2019
Bills introduced in Legislature: Motorcycles and no-fault; increase auto insurance coverage minimums
Motorcycles and no-fault insurance bill introduced in Senate
A bill, S.6251, which would require insurance companies to inform their insureds that motor vehicle no-fault insurance does not apply to motorcycles, was introduced in the state Senate on May 29. The legislation, sponsored by Sen. Michael Ranzenhofer, R- 61, would require insurance companies to provide policy language to advise motorcyclists that no-fault insurance provisions for automobiles do not apply to motorcycles. The insureds also would have to be informed that, as an alternative, state underinsured motorist coverage is available. Motorcyclists who refuse state underinsured motorist coverage would have sign a statement to confirm they were informed of the availability of UIM coverage. The bill’s goal is to encourage motorcyclists to obtain underinsured motorist coverage and to raise awareness of the potential risk of not having this coverage. The bill has been referred to the Senate Insurance Committee.
Bill to increase N.Y.’s minimum auto insurance coverage introduced in Assembly
A bill, which would increase the minimum auto insurance coverage required in New York state, was introduced in the Assembly on May 29. A.7979, sponsored by Assemblyman Jonathan Jacobson, D-104, would increase the minimum insurance coverage required for bodily injury or death for one person in one accident from $25,000 to $50,000 and from $50,000 to $100,000, respectively. When more than one person is injured or dies in an accident, the required limits would increase from $50,000 to $100,000 and from $100,000 to $200,000, respectively. Additionally, for third-party property damage in any one accident, the required limits would increase from $10,000 to $25,000. PIANY has long supported increasing the mandatory minimums to ensure everyone has adequate insurance coverage. The current limits were established more than 20 years ago. This bill has been referred to the Assembly Insurance Committee for consideration.