Bill > A06053

This bill amends the New York insurance law to prohibit automobile insurers from using an individual's credit history as the sole basis for refusing to issue or renew an automobile insurance policy. The bill provides specific definitions for key terms such as "automobile insurance" (defined as a car insurance policy for non-business purposes where a natural person is the named insured), "credit information" (credit-related data from credit reports or applications), and "credit report" (communication about a consumer's credit worthiness). Specifically, the bill prevents insurers from denying new automobile insurance policies to applicants based exclusively on their credit information and also bars insurers from refusing to renew existing policies or requesting credit information for renewal purposes based solely on the policyholder's credit history. This legislation aims to protect consumers from being denied car insurance solely due to their credit standing, potentially ensuring more equitable access to automobile insurance coverage regardless of an individual's credit background.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A6053