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Assembly Bill A10002

2015-2016 Legislative Session

Relates to coverage for punitive damages and civil penalties

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Archive: Last Bill Status - In Assembly Committee

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2015-A10002 (ACTIVE) - Details

See Senate Version of this Bill:
S6909
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง3420, Ins L
Versions Introduced in Other Legislative Sessions:
2017-2018: A4734, S423
2019-2020: A6251, S1604
2021-2022: A1813
2023-2024: A654
2025-2026: A71

2015-A10002 (ACTIVE) - Summary

Permits a liability policy to provide coverage for punitive damages, civil penalties and other non-compensatory damages.

2015-A10002 (ACTIVE) - Bill Text download pdf 

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

                                  10002

                          I N  A S S E M B L Y

                               May 4, 2016
                               ___________

Introduced by M. of A. BRINDISI -- read once and referred to the Commit-
  tee on Insurance

AN ACT to amend the insurance law, in relation to permitting a liability
  policy to provide coverage for punitive damages and civil penalties

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

  Section 1. Section 3420 of the insurance law is amended  by  adding  a
new subsection (k) to read as follows:
  (K)  A  LIABILITY  POLICY  MAY  PROVIDE COVERAGE FOR PUNITIVE DAMAGES,
CIVIL PENALTIES OR OTHER NON-COMPENSATORY DAMAGES.
  S 2. This act shall take effect immediately.








 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14052-02-6

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