A10542 Summary:
BILL NO | A10542 |
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SAME AS | SAME AS S08124-B |
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SPONSOR | Rules (Reyes) |
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COSPNSR | |
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MLTSPNSR | |
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Add 157-b, Gen Bus L | |
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Requires travel insurance companies to provide refunds for travel cancelled due to coronavirus disease 2019 (COVID-19). |
A10542 Actions:
BILL NO | A10542 | |||||||||||||||||||||||||||||||||||||||||||||||||
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05/28/2020 | referred to insurance |
A10542 Memo:
Go to topNEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)   BILL NUMBER: A10542 SPONSOR: Rules (Reyes)
  TITLE OF BILL: An act to amend the general business law, in relation to travel insur- ance companies providing refunds for travel cancelled due to coronavirus disease 2019 (COVID-19); and providing for the repeal of such provisions upon the expiration thereof   PURPOSE OR GENERAL IDEA OF BILL: This bill would require travel insurance companies to provide refunds for travel cancelled due to coronavirus disease 2019 (COVID-19).   SUMMARY OF SPECIFIC PROVISIONS: ' Section 1 states that all travel insurance refund, without any penalty in the form of of any contractual, cancellation period, to York who cancels travel due to coronavirus companies shall provide .a full deduction of fees and regardless any resident of the state of New disease 2019 (COVID19). Section 2 sets the effective date.   JUSTIFICATION: The federal government and New York State have declared emergencies over the coronavirus (COVID-19) pandemic. This bill would require travel insurance companies to provide refunds for travel cancelled due to the coronavirus disease 2019 (COVID-19).   PRIOR LEGISLATIVE HISTORY: New bill   FISCAL IMPLICATIONS: None   EFFECTIVE DATE: This act shall take effect immediately provided that the provisions of this act shall expire and be deemed repealed upon the expiration of the declared state of emergency relating to the novel coronavirus (COVID- 19); and provided, further, that the superintendent of financial services shall notify the legislative bill drafting commission upon occurrence of the expiration of the state disaster emergency declared by executive order number 202 and any further amendments or modifications, and as may be further extended pursuant to section 28 of the executive law, in order that the commission may maintain an accurate and timely effective data base of the official text of the laws of the state of New York in furtherance of effectuating the provisions of section 44 of the legislative and section 70-b of the public officers law.
A10542 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 10542 IN ASSEMBLY May 28, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Reyes) -- read once and referred to the Committee on Insurance AN ACT to amend the general business law, in relation to travel insur- ance companies providing refunds for travel cancelled due to coronavi- rus disease 2019 (COVID-19); and providing for the repeal of such provisions upon the expiration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The general business law is amended by adding a new section 2 157-b to read as follows: 3 § 157-b. Travel insurance refunds. All travel insurance companies 4 shall provide a full refund, without any penalty in the form of 5 deduction of fees and regardless of any contractual cancellation period, 6 to any resident of the state of New York who cancels travel due to coro- 7 navirus disease 2019 (COVID-19). 8 § 2. This act shall take effect immediately provided that the 9 provisions of this act shall expire and be deemed repealed upon the 10 expiration of the declared state of emergency relating to the novel 11 coronavirus (COVID-19); and provided, further, that the superintendent 12 of financial services shall notify the legislative bill drafting commis- 13 sion upon occurrence of the expiration of the state disaster emergency 14 declared by executive order number 202 and any further amendments or 15 modifications, and as may be further extended pursuant to section 28 of 16 the executive law, in order that the commission may maintain an accurate 17 and timely effective data base of the official text of the laws of the 18 state of New York in furtherance of effectuating the provisions of 19 section 44 of the legislative law and section 70-b of the public offi- 20 cers law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD15975-04-0
A10542 LFIN:
  | NO LFIN |