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Senate Bill S5330

2025-2026 Legislative Session

Relates to loss prevention programs

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Sponsored By

Current Bill Status - In Senate Committee Insurance Committee

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2025-S5330 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §2324, Ins L
Versions Introduced in 2023-2024 Legislative Session:
S8889

2025-S5330 (ACTIVE) - Summary

Authorizes insurers to provide no or low cost loss prevention programs to policyholders, pursuant to regulations.

2025-S5330 (ACTIVE) - Sponsor Memo

2025-S5330 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5330
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 20, 2025
                                ___________
 
 Introduced  by  Sen.  BAILEY -- 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.
                                                            LBD09810-01-5

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