Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 25, 2024 |
referred to insurance |
Senate Bill S8889
2023-2024 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Current Bill Status - In Senate Committee Insurance Committee
- 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
2023-S8889 (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §2324, Ins L
2023-S8889 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8889 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the insurance law, in relation to loss prevention programs PURPOSE OF THE BILL: The purpose of this bill is to encourage property insurers to offer voluntary loss mitigation programs to their insureds. SUMMARY OF PROVISION: Section 2324 of the Insurance Law is amended to add a new subsection 6 to allow insurers to provide loss mitigation programs to policyholders pursuant to regulations promulgated by the superintendent. JUSTIFICATION:
2023-S8889 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8889 I N S E N A T E March 25, 2024 ___________ Introduced by Sen. BRESLIN -- 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 loss prevention programs THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (f) of section 2324 of the insurance law is amended to read as follows: (f) THIS SECTION SHALL NOT PROHIBIT ANY INSURER FROM PROVIDING LOSS MITIGATION OR LOSS CONTROL PROGRAMS AT NO OR REDUCED COST TO POLICYHOLD- ERS, PURSUANT TO REGULATIONS PROMULGATED BY THE SUPERINTENDENT. (G) Any person or corporation violating the provisions of this section shall, in addition to all other penalties provided by law, pay to the people of this state as a penalty the sum of five hundred dollars for each such violation. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14951-01-4
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