Assembly Bill A7636

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

                                  7636

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             April 17, 2009
                               ___________

Introduced by M. of A. P. RIVERA, ESPAILLAT, CARROZZA, BENJAMIN, WRIGHT,
  GREENE  --  Multi-Sponsored  by  --  M.  of  A. ALFANO, ARROYO, BARRA,
  BOYLAND, BRENNAN, CLARK,  DIAZ,  HEASTIE,  HOOPER,  JACOBS,  V. LOPEZ,
  MARKEY,  McDONOUGH,  McENENY,  ORTIZ, PERALTA, PERRY, PHEFFER, POWELL,
  RAMOS, J. RIVERA, N. RIVERA, ROBINSON, TOWNS, WEISENBERG -- read  once
  and referred to the Committee on Judiciary

AN  ACT to amend the real property law, in relation to requiring sellers
  of residential real  property  to  provide  the  homeowners  insurance
  claims  history  to  the  buyers of such property and requiring notice
  thereof to be provided in each real estate purchase contract  provided
  by  a  real estate broker; and to amend the insurance law, in relation
  to requiring insurers  to  provide  the  homeowners  insurance  claims
  history of residential real property to the owner thereof

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

  Section 1. Subdivision 4 of section 443-a of the real property law  is
renumbered  subdivision  5  and  a new subdivision 4 is added to read as
follows:
  4. (A) FOR THE PURPOSES OF THIS SUBDIVISION:
  (I) "REAL ESTATE PURCHASE CONTRACT" SHALL HAVE  THE  SAME  MEANING  AS
ASCRIBED  TO  SUCH  TERM  BY  SUBDIVISION  FOUR  OF SECTION FOUR HUNDRED
SIXTY-ONE OF THIS CHAPTER.
  (II) "RESIDENTIAL REAL  PROPERTY"  SHALL  HAVE  THE  SAME  MEANING  AS
ASCRIBED  TO  SUCH  TERM  BY  SUBDIVISION  FIVE  OF SECTION FOUR HUNDRED
SIXTY-ONE OF THIS CHAPTER.
  (B) A SELLER OF RESIDENTIAL REAL PROPERTY WHO HAS ENTERED INTO A  REAL
ESTATE  PURCHASE  CONTRACT  WITH A BUYER SHALL, UPON THE REQUEST OF SUCH
BUYER, PROVIDE THE BUYER THE HOMEOWNERS  INSURANCE  CLAIMS  HISTORY  FOR
SUCH PROPERTY.
  (C)  EVERY  REAL  ESTATE  PURCHASE  CONTRACT  FORM, PROVIDED BY A REAL
ESTATE BROKER OR ANY REAL ESTATE SALESMAN ASSOCIATED WITH  SUCH  BROKER,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10781-01-9
              

A. 7636                             2

SHALL  INCLUDE THE FOLLOWING STATEMENT PRINTED IN BOLD TYPE AND NOT LESS
THAN FOURTEEN POINT PRINT:
  "YOU  HAVE  THE  RIGHT  TO OBTAIN THIS HOME'S INSURANCE CLAIMS HISTORY
FROM THE SELLER OF THE PROPERTY. THE HOMEOWNERS INSURANCE CLAIMS HISTORY
OF THIS PROPERTY WILL IMPACT THE COST OF THE PREMIUM YOU  WILL  PAY  FOR
HOMEOWNERS INSURANCE."
  S 2. The insurance law is amended by adding a new section 3416 to read
as follows:
  S 3416. HOMEOWNERS INSURANCE CLAIMS HISTORY. (A) EVERY INSURER PROVID-
ING  HOMEOWNERS  INSURANCE  IN  THIS STATE SHALL, WITHIN TEN DAYS OF THE
RECEIPT OF A  REQUEST  FOR  THE  HOMEOWNERS  INSURANCE  CLAIMS  HISTORY,
PROVIDE  SUCH HISTORY TO THE OWNER OF THE INSURED PROPERTY. SUCH HISTORY
SHALL INCLUDE THE HOMEOWNERS INSURANCE CLAIMS MADE AND PAID ON THE  REAL
PROPERTY,  AND  SHALL INCLUDE THE INFORMATION INCLUDED IN THE COMPREHEN-
SIVE LOSS UNDERWRITING EXCHANGE.
  (B) THE SUPERINTENDENT SHALL IMPOSE A FINE OF TWENTY-FIVE DOLLARS UPON
AN INSURER FOR EACH DAY SUCH INSURER FAILS TO COMPLY WITH THE PROVISIONS
OF SUBSECTION (A) OF THIS SECTION AND FOR EACH DAY SUCH INSURER FAILS TO
PROVIDE ALL HOMEOWNERS INSURANCE  CLAIMS  HISTORY  INFORMATION  THAT  IS
AVAILABLE TO SUCH INSURER.
  S  3.  This  act shall take effect on the ninetieth day after it shall
have become a law.