NEW 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this act shall expire and be deemed repealed upon the expiration of the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.
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