Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to insurance |
Jun 25, 2015 |
recommitted to rules ordered to third reading cal.1885 committee discharged and committed to rules |
Jun 14, 2015 |
print number 4049b |
Jun 14, 2015 |
amend and recommit to insurance |
Jun 05, 2015 |
print number 4049a |
Jun 05, 2015 |
amend and recommit to insurance |
Feb 26, 2015 |
referred to insurance |
Senate Bill S4049B
2015-2016 Legislative Session
Sponsored By
(R, C, IP, RFM) 24th Senate District
Archive: Last Bill Status - In Senate Committee Insurance 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
Bill Amendments
2015-S4049 - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Add §2601-a, Ins L
- Versions Introduced in 2013-2014 Legislative Session:
-
S5664
2015-S4049 - Sponsor Memo
BILL NUMBER:S4049 TITLE OF BILL: An act to amend the insurance law, in relation to unfair claim settlement practices PURPOSE: To allow insurance policy holders to recover-damages when an insurance company's refusal to pay or unreasonable delay in paying a claim was not substantially justified. SUMMARY OF PROVISIONS: This bill grants insurance policy holders a private right of action to seek damages if their insurer unreasonably refuses to pay or unreasonably delays payment without Substantial justi- fication. An insurer would not be substantially justified in refusing to pay or in unreasonably delaying payment when they 1. Fail to provide the policy holder with accurate information concern- ing policy provision relating to the coverage et issue; or 2. Fail to effectuate, in good faith, a prompt, fair and equitable settlement of a claim submitted by such policy holder in which liability of such insurer to such policy holder was reasonably clear; or 3. Fail to provide a written denial of a policy holder's claim with a full and complete explanation of such denial, including references to specific policy provisions wherever possible; or
2015-S4049 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4049 2015-2016 Regular Sessions I N S E N A T E February 26, 2015 ___________ Introduced by Sen. LANZA -- 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 unfair claim settle- ment practices THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new section 2601-a to read as follows: S 2601-A. UNFAIR CLAIM SETTLEMENT PRACTICES; CIVIL REMEDY. (A) THE HOLDER OF A POLICY ISSUED OR RENEWED PURSUANT TO THIS CHAPTER SHALL HAVE A PRIVATE RIGHT OF ACTION AGAINST ANY INSURER DOING BUSINESS IN THIS STATE FOR DAMAGES AS PROVIDED IN THIS SECTION UPON SUCH POLICYHOLDER PROVING BY A PREPONDERANCE OF THE EVIDENCE THAT SUCH INSURER'S REFUSAL TO PAY OR UNREASONABLE DELAY IN PAYMENT TO THE POLICYHOLDER OF AMOUNTS CLAIMED TO BE DUE UNDER A POLICY WAS NOT SUBSTANTIALLY JUSTIFIED. AN INSURER IS NOT SUBSTANTIALLY JUSTIFIED IN REFUSING TO PAY OR IN UNREA- SONABLY DELAYING PAYMENT WHEN THE INSURER: (1) FAILED TO PROVIDE THE POLICYHOLDER WITH ACCURATE INFORMATION CONCERNING POLICY PROVISIONS RELATING TO THE COVERAGE AT ISSUE; (2) FAILED TO EFFECTUATE IN GOOD FAITH A PROMPT, FAIR AND EQUITABLE SETTLEMENT OF A CLAIM SUBMITTED BY SUCH POLICYHOLDER IN WHICH LIABILITY OF SUCH INSURER TO SUCH POLICYHOLDER WAS REASONABLY CLEAR; (3) FAILED TO PROVIDE A WRITTEN DENIAL OF A POLICYHOLDER'S CLAIM WITH A FULL AND COMPLETE EXPLANATION OF SUCH DENIAL, INCLUDING REFERENCES TO SPECIFIC POLICY PROVISIONS WHEREVER POSSIBLE; (4) FAILED TO MAKE A FINAL DETERMINATION AND NOTIFY THE POLICYHOLDER IN WRITING OF ITS POSITION ON BOTH LIABILITY FOR AND THE INSURER'S VALU- ATION OF A CLAIM WITHIN SIX MONTHS OF THE DATE ON WHICH IT RECEIVED ACTUAL OR CONSTRUCTIVE NOTICE OF THE LOSS UPON WHICH THE CLAIM IS BASED; (5) FAILED TO ACT IN GOOD FAITH BY COMPELLING A POLICYHOLDER TO INSTI- TUTE SUIT TO RECOVER AMOUNTS DUE UNDER ITS POLICY BY OFFERING SUBSTAN- TIALLY LESS THAN THE AMOUNTS ULTIMATELY RECOVERED IN SUIT BROUGHT BY SUCH POLICYHOLDER; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
2015-S4049A - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Add §2601-a, Ins L
- Versions Introduced in 2013-2014 Legislative Session:
-
S5664
2015-S4049A - Sponsor Memo
BILL NUMBER:S4049A TITLE OF BILL: An act to amend the insurance law, in relation to unfair claim settlement practices PURPOSE OF BILL: To allow insurance policy holders to recover-damages when an insurance company's refusal to pay or unreasonable delay in paying a claim was not substantially justified. SUMMARY OF PROVISIONS OF BILL: This bill grants insurance policy holders a private right of action to seek damages if their insurer unreasonably refuses to pay or unreasonably delays payment without substantial justification. An insurer would not be substantially justified in refusing to pay or in unreasonably delaying payment when they: 1. Fail to provide the policy holder with accurate information concerning policy provisions relating to the coverage at issue; or 2. Fail to effectuate, in good faith, a prompt, fair and equitable settlement of a claim submitted by such policy holder in which the liability of such insurer to such policy holder was reasonably clear; or 3. Fail to provide a written denial of a policy holder's claim with a full and complete explanation of such denial, including references to
2015-S4049A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4049--A 2015-2016 Regular Sessions I N S E N A T E February 26, 2015 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed 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 unfair claim settle- ment practices THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new section 2601-a to read as follows: S 2601-A. UNFAIR CLAIM SETTLEMENT PRACTICES; CIVIL REMEDY. (A) THE HOLDER OF A POLICY ISSUED OR RENEWED PURSUANT TO THIS CHAPTER SHALL HAVE A PRIVATE RIGHT OF ACTION AGAINST ANY INSURER DOING BUSINESS IN THIS STATE FOR DAMAGES AS PROVIDED IN THIS SECTION UPON SUCH POLICYHOLDER PROVING BY A PREPONDERANCE OF THE EVIDENCE THAT SUCH INSURER'S REFUSAL TO PAY OR UNREASONABLE DELAY IN PAYMENT TO THE POLICYHOLDER OF AMOUNTS CLAIMED TO BE DUE UNDER A POLICY WAS NOT SUBSTANTIALLY JUSTIFIED. AN INSURER IS NOT SUBSTANTIALLY JUSTIFIED IN REFUSING TO PAY OR IN UNREA- SONABLY DELAYING PAYMENT WHEN THE INSURER: (1) FAILED TO PROVIDE THE POLICYHOLDER WITH ACCURATE INFORMATION CONCERNING POLICY PROVISIONS RELATING TO THE COVERAGE AT ISSUE; (2) FAILED TO EFFECTUATE IN GOOD FAITH A PROMPT, FAIR AND EQUITABLE SETTLEMENT OF A CLAIM SUBMITTED BY SUCH POLICYHOLDER IN WHICH LIABILITY OF SUCH INSURER TO SUCH POLICYHOLDER WAS REASONABLY CLEAR; (3) FAILED TO PROVIDE A WRITTEN DENIAL OF A POLICYHOLDER'S CLAIM WITH A FULL AND COMPLETE EXPLANATION OF SUCH DENIAL, INCLUDING REFERENCES TO SPECIFIC POLICY PROVISIONS WHEREVER POSSIBLE; (4) FAILED TO MAKE A FINAL DETERMINATION AND NOTIFY THE POLICYHOLDER IN WRITING OF ITS POSITION ON BOTH LIABILITY FOR AND THE INSURER'S VALU- ATION OF A CLAIM WITHIN SIX MONTHS OF THE DATE ON WHICH IT RECEIVED ACTUAL OR CONSTRUCTIVE NOTICE OF THE LOSS UPON WHICH THE CLAIM IS BASED; (5) FAILED TO ACT IN GOOD FAITH BY COMPELLING A POLICYHOLDER TO INSTI- TUTE SUIT TO RECOVER AMOUNTS DUE UNDER ITS POLICY BY OFFERING SUBSTAN- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
co-Sponsors
(D) 15th Senate District
(D) Senate District
(R) Senate District
(D, WF) 21st Senate District
2015-S4049B (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Add §2601-a, Ins L
- Versions Introduced in 2013-2014 Legislative Session:
-
S5664
2015-S4049B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4049--B 2015-2016 Regular Sessions I N S E N A T E February 26, 2015 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the insurance law, in relation to unfair claim settle- ment practices THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new section 2601-a to read as follows: S 2601-A. UNFAIR CLAIM SETTLEMENT PRACTICES; CIVIL REMEDY. (A) THE HOLDER OF A POLICY ISSUED OR RENEWED PURSUANT TO ARTICLE THIRTY-FOUR OF THIS CHAPTER SHALL HAVE A PRIVATE RIGHT OF ACTION AGAINST ANY INSURER DOING BUSINESS IN THIS STATE FOR DAMAGES AS PROVIDED IN THIS SECTION UPON SUCH POLICYHOLDER PROVING BY A PREPONDERANCE OF THE EVIDENCE THAT SUCH INSURER'S REFUSAL TO PAY OR UNREASONABLE DELAY IN PAYMENT TO THE POLICYHOLDER OF AMOUNTS CLAIMED TO BE DUE UNDER A POLICY WAS NOT SUBSTANTIALLY JUSTIFIED. AN INSURER IS NOT SUBSTANTIALLY JUSTIFIED IN REFUSING TO PAY OR IN UNREASONABLY DELAYING PAYMENT WHEN THE INSURER: (1) FAILED TO PROVIDE THE POLICYHOLDER WITH ACCURATE INFORMATION CONCERNING POLICY PROVISIONS RELATING TO THE COVERAGE AT ISSUE; (2) FAILED TO EFFECTUATE IN GOOD FAITH A PROMPT, FAIR AND EQUITABLE SETTLEMENT OF A CLAIM SUBMITTED BY SUCH POLICYHOLDER IN WHICH LIABILITY OF SUCH INSURER TO SUCH POLICYHOLDER WAS REASONABLY CLEAR; (3) FAILED TO PROVIDE A WRITTEN DENIAL OF A POLICYHOLDER'S CLAIM WITH A FULL AND COMPLETE EXPLANATION OF SUCH DENIAL, INCLUDING REFERENCES TO SPECIFIC POLICY PROVISIONS WHEREVER POSSIBLE; (4) FAILED TO MAKE A FINAL DETERMINATION AND NOTIFY THE POLICYHOLDER IN WRITING OF ITS POSITION ON BOTH LIABILITY FOR AND THE INSURER'S VALU- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00077-04-5
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