senate Bill S3045

2013-2014 Legislative Session

Creates a homeowners' bill of rights to inform consumers with regards to insuring against catastrophic loss

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Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to insurance
Jan 29, 2013 referred to insurance

S3045 - Details

Current Committee:
Law Section:
Insurance Law
Laws Affected:
Add §§3444-a & 338, amd §2601, Ins L

S3045 - Summary

Creates a homeowners' bill of rights; directs the superintendent of financial services to issue a consumers guide on insuring against catastrophic loss.

S3045 - Sponsor Memo

S3045 - Bill Text download pdf

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

                                  3045

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 29, 2013
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in relation to creating a homeowners'
  bill of rights and a consumer guide on insuring  against  catastrophic
  loss caused by natural disasters

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

  Section 1. The insurance law is amended by adding a new section 3444-a
to read as follows:
  S 3444-A. HOMEOWNERS' BILL OF RIGHTS.  (A)  ANY  INSURER  THAT  WRITES
PERSONAL  LINES  INSURANCE  OR  COMMERCIAL LINES INSURANCE POLICIES THAT
COVER LOSS OF OR DAMAGE TO REAL PROPERTY, PERSONAL  PROPERTY,  OR  OTHER
LIABILITIES  FOR  LOSS OF OR DAMAGE TO PROPERTY SHALL, UPON ISSUANCE AND
RENEWAL OF ANY SUCH POLICY OR CONTRACT, PROVIDE TO AN INSURED OR  POTEN-
TIAL  INSURED  WRITTEN  DETAILED  DISCLOSURE  IN  A NOTICE PRESCRIBED OR
APPROVED BY THE SUPERINTENDENT DESCRIBING CLEARLY AND IN PLAIN  LANGUAGE
THE FOLLOWING:
  (1)  ANY  AND  ALL  COVERAGE  FOR  LOSS CAUSED BY CERTAIN OCCURRENCES,
INCLUDING BUT NOT LIMITED TO FIRE, WIND, WINDSTORM, MUDSLIDE, HURRICANE,
SNOW, ICE, WATER SURGE, OR FLOOD, COVERAGES PROVIDED UNDER  THE  POLICY,
ANY LIMITATIONS ON OR EXCLUSIONS FROM COVERAGE, CIRCUMSTANCES THAT WOULD
INVALIDATE  COVERAGE  UNDER  THE POLICY, ANY APPLICABLE DEDUCTIBLES, AND
WHEN SUCH DEDUCTIBLES SHALL BE TRIGGERED;
  (2) ALL INFORMATION RELATED TO CLAIMS  INVESTIGATION  AND  PROCESSING,
INCLUDING BUT NOT LIMITED TO THE PROCESS BY WHICH THE INSURED MAY FILE A
CLAIM,  ALL  APPLICABLE  TIME FRAMES REQUIRED BY LAW AND REGULATION, ALL
NECESSARY PROOF OF LOSS INFORMATION AND OTHER  INFORMATION  THE  INSURER
MAY  REQUIRE FROM THE INSURED, THE PROCESS BY WHICH THE INSURED MAY FILE
A COMPLAINT WITH THE DEPARTMENT, AND ANY OTHER INFORMATION DEEMED NECES-
SARY BY THE SUPERINTENDENT;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07472-02-3

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