Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 26, 2024 |
signed chap.8 delivered to governor |
Jan 16, 2024 |
returned to senate passed assembly ordered to third reading cal.222 substituted for a8518 |
Jan 16, 2024 |
substituted by s8004 |
Jan 11, 2024 |
advanced to third reading cal.222 |
Jan 08, 2024 |
reported |
Jan 05, 2024 |
referred to insurance |
Assembly Bill A8518
Signed By Governor2023-2024 Legislative Session
Sponsored By
STERN
Current Bill Status Via S8004 - 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
Actions
Votes
2023-A8518 (ACTIVE) - Details
- See Senate Version of this Bill:
- S8004
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §2618, Ins L; amd §2, Chap of 2023 (as proposed in S.5201 & A.2078)
2023-A8518 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8518 I N A S S E M B L Y January 5, 2024 ___________ Introduced by M. of A. STERN -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to standards for prompt investigation and settlement of claims; and to amend a chapter of the laws of 2023 amending the insurance law relating to standards for prompt investigation and settlement of claims arising from states of emergency, as proposed in legislative bills numbers S. 5201 and A. 2078, in relation to the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2618 of the insurance law, as added by a chapter of the laws of 2023 amending the insurance law relating to standards for prompt investigation and settlement of claims arising from states of emergency, as proposed in legislative bills numbers S. 5201 and A. 2078, is amended to read as follows: § 2618. Standards for prompt investigation and settlement of claims. (a) (1) FOR THE PURPOSE OF THIS SECTION, "NATURAL DISASTER" MEANS THE OCCURRENCE OF WIDESPREAD CATASTROPHIC OR SEVERE DAMAGE, INJURY, OR LOSS OF LIFE OR PROPERTY RESULTING FROM ANY NATURAL CAUSE, INCLUDING FIRE, FLOOD, EARTHQUAKE, HURRICANE, TORNADO, HIGH WATER, LANDSLIDE, MUDSLIDE, WIND, STORM, WAVE ACTION, AND ICE STORM. (2) This section shall apply to every insurer who writes policies that cover loss of or damage to real property, personal property or other liabilities for loss of, damage to, or injury to persons or property when: (A) a local state of emergency is declared pursuant to section twen- ty-four of the executive law, when the governor declares a disaster emergency pursuant to section twenty-eight of the executive law, or when the President issues a major disaster or emergency declaration pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (P.L. 93-288)[, for claims arising from such emergency]; (B) THE DISASTER IS A NATURAL DISASTER OR A DISASTER CAUSED BY AN ACT OF TERRORISM; AND (C) THE CLAIMS ARE A RESULT OF SUCH DISASTER. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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