Assembly BillIntroducedISC
A 4173: Permits companies to assess various insurance quotes without having binding agreements with insurance brokers.
What A 4173 does, verified January 8, 2026
The bill proposes to amend the Insurance Law to allow insurance companies to assess various insurance quotes without having binding agreements with insurance brokers. This change would eliminate the requirement for a memorandum or contract between the insurance company and the broker for evaluating insurance policies, bonds, annuities, pensions, or profit-sharing contracts. The new provision would not make the memorandum or contract binding on the insurance company, allowing them to assess quotes without a formal agreement. The changes would take effect sixty days after the bill becomes a law.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to insurance (2026-01-07)Alert me
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | referred to insurance |
| Jan. 31, 2025 | referred to insurance |
Latest bill textIntroduced version, January 31, 2025 · 204 words
STATE OF NEW YORK ________________________________________________________________________ 4173 2025-2026 Regular Sessions IN ASSEMBLY January 31, 2025 ___________ Introduced by M. of A. REILLY -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to permitting companies to assess various insurance quotes without having binding agreements with insurance brokers The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 2119 of the insurance law is amended by adding a 2 new subsection (g) to read as follows: 3 (g) No memorandum or contract required pursuant to subsection (a) of 4 this section shall be binding on any company for examining, appraising, 5 reviewing or evaluating any insurance policy, bond, annuity or pension 6 or profit-sharing contract, plan or program or for making recommenda- 7 tions or giving advice with regard to any of the above by an insurance 8 broker. 9 § 2. This act shall take effect on the sixtieth day after it shall 10 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03364-01-5
Text of A 4173 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions