|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 06, 2010||referred to insurance|
|Jan 07, 2009||referred to insurance|
senate Bill S241
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S241 - Details
- See Assembly Version of this Bill:
- Law Section:
- Insurance Law
S241 - Sponsor Memo
BILL NUMBER: S241 TITLE OF BILL : An act to amend the insurance law, in relation to windstorm insurance notice regarding deductibles PURPOSE : To clearly define the "trigger" or conditions defining the term catastrophic windstorm in the insurance law and place a maximum amount deductible on windstorm damage in homeowner's policies. SUMMARY OF PROVISIONS : Amends §3446 of the Insurance Law to clarify that catastrophic windstorm damage deductibles shall only be applicable to hurricanes with windspeeds of 125 miles per hour or greater and limits the deductible to a maximum of $1500. JUSTIFICATION : The residents of the coastal areas of the state have been for the past few years, subject to a homeowner's insurance market that has vacillated and fluctuated. Without real damage experience in these areas, insurance companies have instituted policies of huge deductibles predicated on hurricanes with minimum windspeeds. This bill will provide those residents with a stable market with reasonable coverage.
S241 - Bill Text download pdf
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