senate Bill S3499

2019-2020 Legislative Session

Relates to business interruption insurance

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Insurance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to insurance
Feb 08, 2019 referred to insurance

Co-Sponsors

S3499 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3426, Ins L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5580
2015-2016: S2350
2017-2018: S2811

S3499 (ACTIVE) - Summary

Relates to business interruption insurance.

S3499 (ACTIVE) - Sponsor Memo

S3499 (ACTIVE) - Bill Text download pdf


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

                                  3499

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            February 8, 2019
                               ___________

Introduced  by  Sens. BRESLIN, SEWARD -- 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 business  interruption
  insurance

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

  Section 1. The section heading of section 3426 of the  insurance  law,
as  amended  by  chapter  235 of the laws of 1989, is amended to read as
follows:
  Commercial lines insurance; cancellation and renewal provisions; BUSI-
NESS INTERRUPTION INSURANCE.
  § 2. Subsection (a) of section 3426 of the insurance law is amended by
adding a new paragraph 12 to read as follows:
  (12) "BUSINESS INTERRUPTION INSURANCE" SHALL HAVE THE SAME MEANING  AS
PARAGRAPH  FOUR  OF SUBSECTION (D) OF SECTION FIVE THOUSAND FOUR HUNDRED
ONE OF THIS CHAPTER.
  § 3. Section 3426 of the insurance law is  amended  by  adding  a  new
subsection (p) to read as follows:
  (P) NO INSURER WRITING A POLICY ISSUED OR DELIVERED IN THIS STATE THAT
PROVIDES  FOR  BUSINESS  INTERRUPTION  INSURANCE  SHALL  DENY OR EXCLUDE
COVERAGE FOR A CLAIM FOR LOSS OR  DAMAGE  THAT  IS  CAUSED  BY  A  PERIL
INSURED AGAINST BY THE POLICY SOLELY BECAUSE THE INSURED PERIL:
  (1)  RESULTED  FROM  A PERIL NOT INSURED AGAINST OR EXPRESSLY EXCLUDED
UNDER THE POLICY; OR
  (2) RESULTED FROM AN ACTION INTENDED TO MITIGATE LOSS FROM A PERIL NOT
INSURED AGAINST OR EXPRESSLY EXCLUDED UNDER THE POLICY; OR
  (3) OCCURRED WITHIN A REASONABLE AMOUNT OF TIME EITHER BEFORE OR AFTER
A PERIL NOT INSURED AGAINST OR EXPRESSLY EXCLUDED UNDER THE POLICY.
  § 4. This act shall take effect immediately and shall apply to  claims
made on or after such effective date.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09758-01-9

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