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Assembly Bill A10197A

2015-2016 Legislative Session

Relates to the use of local cost data when adjusting claims

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Archive: Last Bill Status - On Floor Calendar

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Bill Amendments

2015-A10197 - Details

See Senate Version of this Bill:
S6464
Law Section:
Insurance Law
Laws Affected:
Amd §§2108 & 2601, Ins L
Versions Introduced in 2017-2018 Legislative Session:
A808, S2746

2015-A10197 - 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.

2015-A10197 - Bill Text download pdf 

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

                                  10197

                          I N  A S S E M B L Y

                              May 16, 2016
                               ___________

Introduced  by M. of A. PERRY -- read once and referred to the Committee
  on Insurance

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.
                                                           LBD13229-01-5

2015-A10197A (ACTIVE) - Details

See Senate Version of this Bill:
S6464
Law Section:
Insurance Law
Laws Affected:
Amd §§2108 & 2601, Ins L
Versions Introduced in 2017-2018 Legislative Session:
A808, S2746

2015-A10197A (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.

2015-A10197A (ACTIVE) - Bill Text download pdf 

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

                                10197--A

                          I N  A S S E M B L Y

                              May 16, 2016
                               ___________

Introduced  by M. of A. PERRY -- read once and referred to the Committee
  on Insurance -- committee discharged, bill amended, ordered  reprinted
  as amended and recommitted to said committee

AN ACT to amend the insurance law, in relation to requiring out-of-state
  insurance  adjusters  employed  to  appraise in-state property damages
  arising from emergency situations to employ established rates used for
  appraisal by in-state insurance adjusters

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

  Section  1.  Subsection  (n)  of  section 2108 of the insurance law is
amended to read as follows:
  (n) Notwithstanding the provisions of this  section,  the  superinten-
dent,  in  order  to facilitate the settlement of claims under insurance
contracts involving widespread property losses arising out of a  confla-
gration  or catastrophe common to all such losses, may issue a temporary
permit for a term not exceeding one hundred twenty days to  any  person,
whether  he  be a resident of this state or a non-resident, to act as an
independent adjuster on behalf of an  authorized  insurer  or  insurers,
provided  any  such  insurer shall execute and file in the office of the
superintendent  a  written  application  for  the  permit  in  the  form
prescribed  by  the superintendent, which application shall contain such
information as he may require and shall certify that  the  person  named
therein to be designated in the temporary permit is qualified by experi-
ence  and  training  to  adjust claims arising under insurance contracts
issued by any insurer AND THAT SUCH PERSON  SHALL  ADJUST  CLAIMS  USING
COST  DATA  APPROPRIATE FOR THE REGION OF THE STATE WHERE SUCH PERSON IS
ADJUSTING CLAIMS.  The superintendent may in his discretion  renew  such
permit  for  an  additional  term or terms as may be necessary to adjust
such claims.   A PERSON ISSUED  A  TEMPORARY  PERMIT  PURSUANT  TO  THIS
SUBSECTION SHALL UTILIZE COST DATA THAT IS APPROPRIATE FOR THE REGION OF
THE STATE WHERE SUCH PERSON IS ADJUSTING CLAIMS.
  S  2.  Paragraphs  6  and  7 of subdivision (a) of section 2601 of the
insurance law, paragraph 6 as  amended  and  paragraph  7  as  added  by

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13229-02-6

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