Bill Text: NY A00211 | 2025-2026 | General Assembly | Introduced

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Bill Title: Requires property/casualty insurance policies to state the types and causes of damage that are covered by such policy; requires such information to be provided at or near the beginning of such policy.

Spectrum: Bipartisan Bill

Status: (Introduced) 2025-01-08 - referred to insurance [A00211 Detail]

Download: New_York-2025-A00211-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           211

                               2025-2026 Regular Sessions

                   IN ASSEMBLY

                                       (Prefiled)

                                     January 8, 2025
                                       ___________

        Introduced  by M. of A. EACHUS, LEVENBERG, JACOBSON, BRABENEC, McDONOUGH
          -- read once and referred to the Committee on Insurance

        AN  ACT  to  amend  the  insurance  law,  in   relation   to   requiring
          property/casualty  insurance policies to state the types and causes of
          damage that are covered by such policy

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.   Section 3407-a of the insurance law, as added by chapter
     2  306 of the laws of 2001, is amended to read as follows
     3    § 3407-a. Property/casualty insurance  contract  and  policy  standard
     4  provisions.  (a) No property/casualty insurance policy or contract shall
     5  be issued or issued for delivery on a risk located or resident  in  this
     6  state  insuring  against damage to the insured's real property unless it
     7  contains in substance the following provision or a  provision  which  is
     8  equal or more favorable to the insured: a provision that in the event of
     9  a  pending  claim for damage to real property, upon request, the insurer
    10  shall furnish to the insured's representative, designated in writing, or
    11  if none has been designated, to the insured, a copy of any written esti-
    12  mate or estimates of the cost of damages to real property resulting from
    13  the loss which the  insurer  has  independently  prepared  for  its  own
    14  purposes, or had prepared on its behalf for its own purposes, specifying
    15  all  appropriate  deductions,  within  thirty  days after the request or
    16  preparation, whichever is later,  of  such  estimate  or  estimates.  An
    17  insurer  shall  not  be  required  to  provide an estimate on claims for
    18  damages to real property unless it has independently prepared one or had
    19  one prepared on its behalf for the insurer's own purposes.
    20    (b) Every property/casualty insurance policy  or  contract  issued  or
    21  issued  for  delivery  on a risk located or resident in this state shall
    22  clearly and concisely state the types and causes of damage that are  and
    23  that  are  not  covered  by  such  policy.    Such  information shall be
    24  contained at or near the beginning of the policy and shall be printed in
    25  a font size that is easily legible.
    26    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01497-01-5