senate Bill S4103

2013-2014 Legislative Session

Relates to authority for the joint underwriting association to issue broad form insurance coverage

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee

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

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view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to insurance
Jun 21, 2013 committed to rules
Mar 20, 2013 advanced to third reading
Mar 19, 2013 2nd report cal.
Mar 18, 2013 1st report cal.205
Mar 08, 2013 referred to insurance

S4103 - Details

Current Committee:
Law Section:
Insurance Law
Laws Affected:
Amd ยง5402, Ins L

S4103 - Summary

Provides permanent authority for the joint underwriting association to issue broad form insurance coverage.

S4103 - Sponsor Memo

S4103 - Bill Text download pdf

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


                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              March 8, 2013

Introduced  by  Sen.  SEWARD -- 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  providing  permanent
  authority  for  the joint underwriting association to issue broad form
  insurance coverage


  Section  1.  Subsection  (g)  of section 5402 of the insurance law, as
added by chapter 136 of the laws of 2008, is amended to read as follows:
  (g) In addition to fire insurance,  extended  coverage,  coverage  for
additional  perils  and  homeowners  insurance  should  the same be made
available through the association in accordance with a determination  of
necessity  pursuant to section five thousand four hundred twelve of this
article, the association may offer broad  form  coverage  to  applicants
seeking to insure real property at fixed locations of this state, or the
tangible  personal  property located thereon. [The association may offer
broad form coverage for a period of five years after the effective  date
of  this subsection. The superintendent shall require the association to
report to him or her annually during that five-year  period  as  to  the
number  of  policies  written  pursuant to this subsection and paragraph
three of subsection (f) of section five thousand four  hundred  five  of
this  article in the previous year, and any other information the super-
intendent may require. The  superintendent  shall  then  report  to  the
governor  and  the  legislature  regarding the number of policies issued
pursuant to this subsection and such paragraph annually  for  the  first
four  years  such  coverage  is offered. On or before January first, two
thousand thirteen, the superintendent shall  make  a  final,  cumulative
report to the governor and the legislature which shall include recommen-
dations as to the continuation of such insurance offerings.]
  S 2. This act shall take effect immediately.

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


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