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Assembly Bill A4734A

2017-2018 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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Bill Amendments

co-Sponsors

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2017-A4734 - Details

See Senate Version of this Bill:
S423
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3421, Ins L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10002, S6909
2019-2020: A6251, S1604
2021-2022: A1813
2023-2024: A654
2025-2026: A71

2017-A4734 - Summary

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

2017-A4734 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4734
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 3, 2017
                                ___________
 
 Introduced  by  M.  of A. BRINDISI, SIMOTAS -- read once and referred to
   the Committee 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.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01964-01-7

co-Sponsors

multi-Sponsors

2017-A4734A (ACTIVE) - Details

See Senate Version of this Bill:
S423
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3421, Ins L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10002, S6909
2019-2020: A6251, S1604
2021-2022: A1813
2023-2024: A654
2025-2026: A71

2017-A4734A (ACTIVE) - Summary

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

2017-A4734A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4734--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 3, 2017
                                ___________
 
 Introduced  by  M.  of  A.  BRINDISI, SIMOTAS, ZEBROWSKI, D'URSO, BLAKE,
   GARBARINO -- Multi-Sponsored by -- M. of A. HAWLEY, ORTIZ -- read once
   and referred to the Committee  on  Insurance  --  recommitted  to  the
   Committee  on  Insurance in accordance with Assembly Rule 3, sec. 2 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee
 
 AN  ACT  to  amend  the insurance law, in relation to permitting certain
   liability policies 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. The insurance law is amended by adding a new  section  3421
 to read as follows:
   §  3421.  PUNITIVE DAMAGES AND CIVIL PENALTIES COVERAGE. 1. AN INSURER
 MAY PROVIDE AND AN INSURED MAY PURCHASE INSURANCE AGAINST  AN  AWARD  OF
 PUNITIVE  DAMAGES, OR CIVIL PENALTIES, OR OTHER NON-COMPENSATORY DAMAGES
 IN ANY LIABILITY INSURANCE POLICY EXCEPT IN A POLICY OF  PERSONAL  LINES
 INSURANCE  ISSUED  TO  A  NATURAL PERSON FOR NON-BUSINESS PURPOSES, OR A
 COMMERCIAL AUTOMOBILE LIABILITY INSURANCE POLICY.
   2. COVERAGE MAY PROVIDE PROTECTION FOR VICARIOUS  LIABILITY  RESULTING
 FROM  THE  CONDUCT OF ANOTHER, OR WHEN ASSESSED AGAINST A PARTY DIRECTLY
 FOR GROSS NEGLIGENCE OR RECKLESS CONDUCT. COVERAGE SHALL NOT APPLY WHERE
 LIABILITY RESULTS FROM ACTION THAT WAS INTENDED TO CAUSE  THE  RESULTING
 HARM,  DAMAGE  OR  INJURY.  COVERAGE  SHALL  APPLY  ONLY  WHEN EXPRESSLY
 PROVIDED FOR BY THE INSURANCE POLICY.
   3. THIS SECTION SHALL APPLY PROSPECTIVELY TO INSURANCE  POLICIES  WITH
 EFFECTIVE DATES ON OR AFTER THE EFFECTIVE DATE OF THIS SECTION.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01964-06-8

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