S T A T E O F N E W Y O R K
I N S E N A T E
June 16, 2014
Introduced by Sens. GOLDEN, LANZA -- read twice and ordered printed, and
when printed to be committed to the Committee on Rules
AN ACT to amend the insurance law, in relation to use of local cost data
when adjusting claims
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 2108 of the insurance law is amended by adding a
new subsection (t) to read as follows:
(T) AN INSURER AND INDEPENDENT ADJUSTER, INCLUDING AN INDEPENDENT
ADJUSTER RECEIVING A PERMIT UNDER SUBSECTION (N) OF THIS SECTION, SHALL
ADJUST A CLAIM MADE UNDER AN INSURANCE POLICY THAT PROVIDES COVERAGE FOR
LOSS OF OR DAMAGE TO REAL OR PERSONAL PROPERTY USING COST DATA APPROPRI-
ATE FOR THE REGION OF THIS STATE WHERE THE LOSS OR DAMAGE OCCURRED. THIS
SUBSECTION SHALL NOT APPLY TO AUTOMOBILE INSURANCE POLICIES.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.