Assembly Bill A8453

2015-2016 Legislative Session

Requires that all commercial insurance policies provide coverage against the loss of perishable items in the case of a black-out or power outage

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A8453 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3420, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6428
2011-2012: A1264
2013-2014: A3026
2017-2018: A4059
2019-2020: A2819

2015-A8453 (ACTIVE) - Summary

Requires that all commercial insurance policies provide coverage against the loss of perishable items in the case of a black-out or power outage.

2015-A8453 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8453

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             October 9, 2015
                               ___________

Introduced  by  M. of A. ORTIZ, PEOPLES-STOKES, WALKER, COOK, SOLAGES --
  read once and referred to the Committee on Insurance

AN ACT to amend the insurance law, in relation to the inclusion of busi-
  ness interruption insurance in all commercial insurance policies

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subsection  (a)  of  section 3420 of the insurance law is
amended by adding a new paragraph 7 to read as follows:
  (7) A PROVISION IN ALL COMMERCIAL INSURANCE POLICIES PROVIDING  COVER-
AGE  AGAINST THE LOSS OF PERISHABLE PROPERTY DUE TO A BLACK-OUT OR POWER
OUTAGE THAT LASTS TWELVE HOURS OR LONGER.
  S 2. This act shall take effect immediately and  shall  apply  to  all
policies issued, renewed, or altered on or after such effective date.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04784-01-5

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