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Bill

Bill

A 908

Relates to repealing section 7718 of the insurance law, relating to the prohibited advertisement of the corporation in sale of insurance

2025 Regular Session Introduced by Ken Blankenbush and 4 co-sponsors

Repeals Insurance Law §7718, removing the ban on a corporation advertising its own name or branding in selling insurance, enabling broader insurer branding in sales materials.

REFERRED TO INSURANCE
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WeVote Research Nonpartisan
Bill Summary · A 908

Summary of Bill A 908

Overview

Bill A 908, introduced January 8, 2025, is a proposed repeal of a prohibition currently found in section 7718 of the New York Insurance Law. The bill is categorized as a matter relating to the insurance law and has been referred to the Assembly Committee on Insurance.

Purpose and intent

  • The primary aim is to repeal section 7718, which governs the prohibition on advertising the corporation in the sale of insurance.
  • In effect, the bill would remove the statutory bar on a corporation advertising its own name or branding in connection with selling insurance products.

What the bill would do

  • Repeal: Eliminate the prohibition contained in Insurance Law § 7718 regarding corporation advertising in connection with the sale of insurance.
  • The bill does not outline additional new requirements or changes to other sections of the Insurance Law beyond this repeal (based on the information provided).

Who would be affected

  • Insurance corporations and other entities involved in selling insurance that, under current law, are barred from advertising their own corporate identity in the context of insurance sales.
  • Advertising and marketing professionals working with insurers, who may gain more leeway to feature the corporate name or branding in sales materials.
  • Consumers purchasing insurance, who could see more corporate branding in marketing and sales communications.

Key provisions and changes

  • Repeal of Insurance Law § 7718: The explicit prohibition on advertising the corporation in the sale of insurance would be removed.
  • No other substantive provisions are described in the available material; the bill’s content is limited to the repeal.

Procedural and timeline aspects

  • Status: REFERRED TO INSURANCE (as of January 8, 2025).
  • Introduced: January 8, 2025.
  • Legislative actions recorded: Two identical entries on 2025-01-08 noting the referral to the Insurance committee.
  • Sponsors:
    • Primary: Kenneth Blankenbush
    • Co-sponsors: Karl Brabenec, David McDonough, Brian D. Miller, Stephen Hawley

Related and prior legislation

  • Related bills from prior sessions include A 3220, A 5778, A 7535, A 10426, A 3128, A 10329, A 5072, A 4207, and A 1440. These may reflect earlier attempts or related approaches to modify the advertising provisions within the insurance law.

Considerations and potential impacts

  • Market and branding: If enacted, insurers may more openly advertise their corporate identity in insurance sales, potentially affecting branding strategies and market competition.
  • Consumer protection: Advertising standards beyond the repeal (e.g., truth-in-advertising and non-deceptive practices) would still apply under existing law and regulatory oversight.
  • Regulation and oversight: The repeal would operate within the framework of the New York Department of Financial Services and other general consumer protection rules that govern advertising, disclosures, and sales practices.

Notes: The available information does not include the bill’s full text, effective date, or any transitional provisions. The analysis above reflects the stated purpose and anticipated impact based on the provided summary.

Compiled from official sources — confirm details with the bill’s official record.

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