Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 13, 2024 |
referred to insurance delivered to assembly passed senate |
Jan 24, 2024 |
advanced to third reading |
Jan 23, 2024 |
2nd report cal. |
Jan 22, 2024 |
1st report cal.153 |
Jan 10, 2024 |
referred to insurance |
Senate Bill S8167
2023-2024 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Current Bill Status - In Assembly 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
Votes
co-Sponsors
(R, C, IP) 54th Senate District
2023-S8167 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8942
- Current Committee:
- Assembly Insurance
- Law Section:
- Financial Services
2023-S8167 (ACTIVE) - Summary
Directs the department of financial services to conduct a study examining the increasing costs of insurance premiums, the lack of availability of insurance coverage for losses from flooding, and the possibility of supporting a private flood insurance market in the state.
2023-S8167 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8167 SPONSOR: BRESLIN TITLE OF BILL: An act in relation to directing the department of financial services to conduct a study examining the increasing costs of insurance premiums, the lack of availability of insurance coverage for losses from flooding, and the possibility of supporting a private flood insurance market in the state PURPOSE OR GENERAL IDEA OF BILL: To direct the Department of Financial Services to study the impacts recent weather-related events have had on the property insurance market in New. York State. SUMMARY OF PROVISIONS: Section 1. The Department of Financial Services to conduct a study exam- ining the increasing costs of insurance premiums, the lack of availabil- ity of insurance coverage for losses from flooding, and the possibility
2023-S8167 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8167 I N S E N A T E January 10, 2024 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT in relation to directing the department of financial services to conduct a study examining the increasing costs of insurance premiums, the lack of availability of insurance coverage for losses from flood- ing, and the possibility of supporting a private flood insurance market in the state THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The department of financial services shall conduct a study to examine any increases in property insurance premiums that may affect affordability of property insurance coverage, any lack of availability of property insurance coverage for losses from flooding in New York state, and the possibility of supporting a private flood insurance market in the state. Such department shall: (a) analyze any factors that have increased property insurance costs for such losses from flooding and analyze any factors that have limited insurers from property insurance coverage for losses from flooding; (b) identify the potential impact, over the next ten years, of the cost of property insurance and the unavailability of property insurance coverage for losses from flooding and any other topic or issue that is determined to be relevant to the completion of the study by the depart- ment; and (c) analyze the possibility of supporting a private flood insurance market in the state as a supplement to the existing National Flood Insurance Program. § 2. The department of financial services shall prepare a report which shall be submitted to the governor, the temporary president of the senate, the speaker of the assembly, the minority leader of the senate and the minority leader of the assembly, within eleven months after the effective date of this act, containing findings and recommendations for potential legislative and regulatory actions to address any increased costs, affordability, or any unavailability of property insurance, and EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13697-01-3
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