New York A01273 prohibits motor vehicle insurers from using socioeconomic factors in setting premiums and coverage terms.

New York A01273 amends the insurance law to prohibit motor vehicle insurers from using certain socioeconomic factors in determining algorithms, actuarial tables, coverage terms, premiums, and rates. Prohibited factors include age, marital status, sex, sexual orientation, educational background, employment status, income level, consumer credit information, real property ownership, and any other characteristic indicating socioeconomic status. The act takes effect immediately.

New York A01273 prohibits motor vehicle insurers from using socioeconomic factors in setting premiums and coverage terms.

New York A01273 amends the insurance law to prohibit motor vehicle insurers from using certain socioeconomic factors in determining algorithms, actuarial tables, coverage terms, premiums, and rates. Prohibited factors include age, marital status, sex, sexual orientation, educational background, employment status, income level, consumer credit information, real property ownership, and any other characteristic indicating socioeconomic status. The act takes effect immediately.