senate Bill S7876

2013-2014 Legislative Session

Relates to the use of local cost data when adjusting claims

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate


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

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 19, 2014 referred to codes
delivered to assembly
passed senate
Jun 18, 2014 ordered to third reading cal.1586
Jun 16, 2014 referred to rules

Co-Sponsors

S7876 - Details

See Assembly Version of this Bill:
A8834B
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Amd ยง2108, Ins L

S7876 - Summary

Relates to the use of local cost data when adjusting claims; requires an insurer and independent adjuster to adjust certain claims made under an insurance policy that provides coverage for loss of or damage to property using cost data appropriate for the region of this state where the loss or damage occurred.

S7876 - Sponsor Memo

S7876 - Bill Text download pdf

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

                                  7876

                            I N  S E N A T E

                              June 16, 2014
                               ___________

Introduced by Sens. GOLDEN, LANZA -- read twice and ordered printed, and
  when printed to be committed to the Committee on Rules

AN ACT to amend the insurance law, in relation to use of local cost data
  when adjusting claims

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

  Section 1. Section 2108 of the insurance law is amended  by  adding  a
new subsection (t) to read as follows:
  (T)  AN  INSURER  AND  INDEPENDENT  ADJUSTER, INCLUDING AN INDEPENDENT
ADJUSTER RECEIVING A PERMIT UNDER SUBSECTION (N) OF THIS SECTION,  SHALL
ADJUST A CLAIM MADE UNDER AN INSURANCE POLICY THAT PROVIDES COVERAGE FOR
LOSS OF OR DAMAGE TO REAL OR PERSONAL PROPERTY USING COST DATA APPROPRI-
ATE FOR THE REGION OF THIS STATE WHERE THE LOSS OR DAMAGE OCCURRED. THIS
SUBSECTION SHALL NOT APPLY TO AUTOMOBILE INSURANCE POLICIES.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11366-11-4

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