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 |
Senate Bill S7876
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(R, C, IP, RFM) 24th Senate District
2013-S7876 (ACTIVE) - Details
2013-S7876 (ACTIVE) - 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.
2013-S7876 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7876 TITLE OF BILL: An act to amend the insurance law, in relation to use of local cost data when adjusting claims PURPOSE: To assure that insurance adjusters use regionally appropriate cost data when estimating property damages for insurance claims. SUMMARY OF PROVISIONS: This bill will require independent adjusters to adjust claims made under an insurance policy for loss of or damage to to property using cost data appropriate for the region of the state where the loss or damage occurred. It creates a new subsection (t) in section 2801 of the insurance law. JUSTIFICATION: Super storm Sandy wreaked havoc in New York resulting in thousands of claims filed and a need to quickly provide relief to those whose homes were lost or damaged. As Insurance companies brought in out of state adjusters from across the country to handle the work load, problems emerged with computer programs supposed to provide data reflecting local costs for repair and construction services in New York City. This legislation will assure that in the future, regionally appro- priate data will always be used whether during catastrophe like Sandy or on a regular day to day basis. EXISTING LAW: New bill.
2013-S7876 (ACTIVE) - 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
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.