NY State Senate Bill S5126

Archive: Last 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 (6)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to insurance
Jun 20, 2019	committed to rules
May 01, 2019	advanced to third reading
Apr 30, 2019	2nd report cal.
Apr 29, 2019	1st report cal.466
Apr 10, 2019	referred to insurance

Votes

view votes

Apr 29, 2019 - Insurance committee Vote

S5126

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

S5126 (ACTIVE) - Details

See Assembly Version of this Bill:: A1167
Current Committee:: Senate Insurance
Law Section:: Insurance Law
Laws Affected:: Rpld §3403, Ins L
Versions Introduced in Other Legislative Sessions:: 2017-2018: S7767, A9707
2021-2022: S2627, A603
2023-2024: S3547, A2811

S5126 (ACTIVE) - Summary

Repeals provisions relating to mandatory anti-arson applications for insurance coverage to insure any building against the peril of fire or explosion.

S5126 (ACTIVE) - Sponsor Memo

 
BILL NUMBER: S5126

SPONSOR: SANDERS
 
TITLE OF BILL:  An act to repeal certain provisions of the insurance
law relating to anti-arson applications

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this bill is to repeal section 3403 of the insurance law
and its accompanying regulations.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 - Repeals section 3403 of the insurance law

Section 2- Directs Superintendent of Department of Financial services to
repeal all rules and regulations which implement section 340 3 of insur-
ance law

Section 3- Establishes the effective date

 
JUSTIFICATION:

In 1981 when New York first enacted its anti-arson application law

(originally section 168-j of the insurance law, now section 3403), arson
for profit was a significant economic and societal problem. New York's
anti-arson application law was enacted to give insurers ownership and
property valuation information to assist in the investigation of arson
for profit and to require property owners to sign a fraud statement.
However, present-day arson investigation techniques no longer rely on
the anti-arson application form to determine ownership and property
valuation and fraud statements are collected through other means when
adjusting a loss. Insurers have access to a multitude of third-party
sources to determine ownership and property values. Since the informa-
tion collected on the form is no longer used, completing and collecting
the form (which is required for both new and renewed insurance poli-
cies)creates a significant burden for both consumers and insurers.
Consumers suffer because completing the form is burdensome and insurance
carriers must cancel in force policies when the form is not returned,
which means that the policyholder may be without coverage. Furthermore,
consumers hear the ultimate administrative cost of having insurers rein-
state policies that have been cancelled when they fail to renew the
anti-arson application. Insurers are burdened by the inordinate amount
of time spent tracking down the anti-arson application from property
owners. Recognizing that the reason that this law was originally enacted
no longer exists, both Rochester and Buffalo repealed the law in recent
years.

 
PRIOR LEGISLATIVE HISTORY:

2017: A9707-Referred to Insurance

 
FISCAL IMPLICATIONS:

None

 
EFFECTIVE DATE:
This act shall take effect immediately.

S5126 (ACTIVE) - Bill Text download pdf


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

                                  5126

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             April 10, 2019
                               ___________

Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to repeal certain provisions of the  insurance  law  relating  to
  anti-arson applications

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

  Section 1. Section 3403 of the insurance law is REPEALED.
  § 2. The superintendent of financial services shall repeal  all  rules
and  regulations  which  implement the provisions of section 3403 of the
insurance law.
  § 3. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01078-01-9

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The New York State Senate

senate Bill S5126

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

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Votes

Apr 29, 2019 - Insurance committee Vote

Insurance Committee Vote: Apr 29, 2019

S5126 (ACTIVE) - Details

S5126 (ACTIVE) - Summary

S5126 (ACTIVE) - Sponsor Memo

S5126 (ACTIVE) - Bill Text download pdf

Comments

senate Bill S5126

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Sponsored By

James Sanders Jr.

Archive: Last Bill Status - In Senate Committee Insurance Committee

Your Voice

Actions

Votes

Apr 29, 2019 - Insurance committee Vote

Insurance Committee Vote: Apr 29, 2019

S5126 (ACTIVE) - Details

S5126 (ACTIVE) - Summary

S5126 (ACTIVE) - Sponsor Memo

S5126 (ACTIVE) - Bill Text download pdf

Comments