Senate Bill S2746

Signed By Governor
2017-2018 Legislative Session

Relates to the use of local cost data when adjusting claims

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • 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

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2017-S2746 (ACTIVE) - Details

See Assembly Version of this Bill:
A808
Law Section:
Insurance Law
Laws Affected:
Amd §§2108 & 2601, Ins L
Versions Introduced in 2015-2016 Legislative Session:
S6464, A10197

2017-S2746 (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.

2017-S2746 (ACTIVE) - Sponsor Memo

2017-S2746 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2746
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 17, 2017
                                ___________
 
 Introduced  by  Sen.  GOLDEN -- 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 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06031-01-7
              

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