Bill
A 853
Overview: A 853, Allows residents who are employed by employers based in another state to obtain property/casualty or liability coverage under a policy issued to their employer, RE
Overview: A 853, Allows residents who are employed by employers based in another state to obtain property/casualty or liability coverage under a policy issued to their employer, REFERRED TO INSURANCE, Introduced: January 08, 2025
Purpose and Intent: This bill aims to provide greater insurance coverage options for New York residents who are employed by companies based in other states. The goal is to allow these individuals to obtain property/casualty or liability coverage under their employer's insurance policy, even if the employer is located outside of New York.
Key Provisions:
- Permits New York residents employed by out-of-state companies to obtain property/casualty or liability coverage under their employer's insurance policy
- Requires the insurance policy to be issued in the state where the employer is based
- Ensures that the coverage provided to the New York resident employee is the same as the coverage provided to the employer's in-state employees
Affected Parties and Impacts:
- New York residents employed by companies based in other states will be able to access insurance coverage through their employer's policy, potentially providing more affordable and comprehensive options
- Insurance companies will need to adapt their policies and procedures to accommodate the new coverage requirements for out-of-state employees
Procedural and Timeline Considerations:
The bill has been referred to the Insurance committee for further consideration. If passed, the new law would require insurance companies to update their policies and procedures to allow for the expanded coverage options for New York residents employed by out-of-state companies.
Compiled from official sources — confirm details with the bill’s official record.
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