Bill Text: NY A01792 | 2015-2016 | General Assembly | Introduced

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Bill Title: Requires homeowner's insurance policies, upon issuance or renewal, to include notice that such a claim may adversely affect future premiums, renewal, or may condition policy renewal upon change of limits or elimination of coverages.

Spectrum: Partisan Bill (Democrat 12-0)

Status: (Introduced - Dead) 2016-01-06 - referred to insurance [A01792 Detail]

Download: New_York-2015-A01792-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1792
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 13, 2015
                                      ___________
       Introduced  by M. of A. PAULIN, BENEDETTO, COLTON, HOOPER -- Multi-Spon-
         sored by -- M. of A.  CAHILL, CLARK, COOK, DINOWITZ, GUNTHER,  HIKIND,
         PERRY,  RIVERA,  WRIGHT  -- read once and referred to the Committee on
         Insurance
       AN ACT to amend the insurance law, in relation  to  notice  to  insureds
         upon filing of a claim under a homeowners' insurance policy
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The insurance law is amended by adding a new  section  3421
    2  to read as follows:
    3    S  3421.  NOTICE  TO  INSURED; HOMEOWNERS' INSURANCE CLAIMS.  UPON THE
    4  ISSUANCE OR RENEWAL OF A HOMEOWNERS' INSURANCE POLICY, THE INSURER SHALL
    5  INCLUDE IN THE POLICY OR IN THE POLICY RENEWAL THE FOLLOWING  NOTICE  TO
    6  THE  INSURED  STATING,  IN  PLAIN,  EASY  TO  READ, BOLD FACED TYPE, THE
    7  FOLLOWING:
    8                        "IMPORTANT NOTICE TO INSURED
    9    EACH CLAIM MADE AGAINST A HOMEOWNERS' INSURANCE POLICY  MAY  ADVERSELY
   10  AFFECT  YOUR PREMIUM OR MAY CONDITION YOUR POLICY RENEWAL UPON CHANGE OF
   11  LIMITS OR ELIMINATION OF COVERAGES, OR MAY AFFECT THE ABILITY  TO  RENEW
   12  YOUR INSURANCE POLICY."
   13    S  2.  This  act shall take effect on the ninetieth day after it shall
   14  have become a law and shall apply to all policies issued or  renewed  on
   15  and after such effective date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05045-01-5