Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to insurance |
Jan 09, 2013 |
referred to insurance |
Assembly Bill A1222
2013-2014 Legislative Session
Sponsored By
THIELE
Archive: Last 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
2013-A1222 (ACTIVE) - Details
2013-A1222 (ACTIVE) - Summary
Provides that the maximum deductible allowed in catastrophic windstorms shall not be greater than fifteen hundred dollars and shall be stated in the policy in numerical terms; also provides that deductibles shall only be applicable to losses incurred in windstorms with speeds greater than 125 miles per hour.
2013-A1222 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 1760 A. 1222 2013-2014 Regular Sessions S E N A T E - A S S E M B L Y (PREFILED) January 9, 2013 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Insurance IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to windstorm insurance notice regarding deductibles THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 3445 of the insurance law, as added by chapter 44 of the laws of 1998, is amended to read as follows: S 3445. Windstorm insurance notice. 1. The superintendent shall by regulation establish disclosure requirements with respect to the opera- tion of any deductible in a homeowner's insurance policy or dwelling fire personal lines policy which applies as the result of a windstorm. Such regulations shall prescribe the form of a notice to be provided by an insurer to an insured. The notice shall explain in clear and plain language the amount of the deductible SUBJECT TO SUBSECTION THREE OF THIS SECTION, the circumstances under which the deductible applies and any other matters which the superintendent, in his or her discretion, shall deem necessary or appropriate. 2. A CATASTROPHIC WINDSTORM DEDUCTIBLE APPLICABLE TO A HOMEOWNER'S INSURANCE POLICY OR DWELLING FIRE PERSONAL LINES POLICY SHALL NOT BE APPROVED BY THE DEPARTMENT UNLESS THE DEDUCTIBLE IS APPLICABLE ONLY TO LOSSES INCURRED IN A HURRICANE WHICH CAUSES WIND SPEEDS OF ONE HUNDRED TWENTY-FIVE MILES OR GREATER PER HOUR TO OCCUR WITHIN THE STATE. 3. THE MAXIMUM DEDUCTIBLE ALLOWED SHALL NOT BE GREATER THAN FIFTEEN HUNDRED DOLLARS AND SHALL BE STATED ON THE POLICY IN NUMERICAL TERMS. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01682-01-3
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.