Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to insurance |
Jan 07, 2015 |
referred to insurance |
Senate Bill S856
2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Insurance 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
co-Sponsors
(D, IP) Senate District
2015-S856 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6385
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance
- Laws Affected:
- Amd §12, Chap 42 of 1996; amd §23, Chap 136 of 2008
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S8110, A11486
2011-2012: S1027, A5215
2013-2014: S2338, A5312
2017-2018: S3971, A7469
2015-S856 (ACTIVE) - Sponsor Memo
BILL NUMBER:S856 TITLE OF BILL: An act to amend chapter 42 of the laws of 1996 amending the insurance law relating to homeowners' insurance and a temporary panel on homeowners' insurance coverage, in relation to the special advisory panel on homeowners' insurance/catastrophe coverage; and to amend chapter 136 of the laws of 2008 amending the insurance law relating to extending the effectiveness of certain stand-by powers of the New York property insurance underwriting association, in relation to the program designed to attract more competitors to the homeowners' insurance market PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to expand the charge of the already existing Temporary Panel on Homeowners' Insurance coverage (the Panel) to devote particular attention to the market dynamics in the coastal homeowners' insurance market and to review federal legislation, in addition to state legislative activities regarding catastrophe related insurance coverages. With the advent of Hurricane Irene and Superstorm Sandy, the Financial Services Department should expand upon the number of tasks taken on by the Temporary Panel on Homeowner's Insurance to ensure that the homeowners market remains competitive and that consumers have more than one or two alternatives (if they have any
2015-S856 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 856 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sens. KLEIN, SAVINO -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend chapter 42 of the laws of 1996 amending the insurance law relating to homeowners' insurance and a temporary panel on home- owners' insurance coverage, in relation to the special advisory panel on homeowners' insurance/catastrophe coverage; and to amend chapter 136 of the laws of 2008 amending the insurance law relating to extend- ing the effectiveness of certain stand-by powers of the New York prop- erty insurance underwriting association, in relation to the program designed to attract more competitors to the homeowners' insurance market THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 12 of chapter 42 of the laws of 1996 amending the insurance law relating to homeowners' insurance and a temporary panel on homeowners' insurance coverage, as amended by chapter 136 of the laws of 2008, is amended to read as follows: (1) The superintendent of [insurance] FINANCIAL SERVICES is hereby directed to convene a special advisory panel on homeowners' insurance/catastrophe coverage, to examine and assess the problems affecting the availability and affordability of homeowners' insurance in this state and the effect thereon created by any potential major weather catastrophe. The panel shall study and report on the following issues on or before November 30, [2009] 2016, and on [an annual] A BIENNIAL basis thereafter: (a) a review of FEDERAL LEGISLATION AND other states' activities regarding catastrophe related coverage, including but not limited to an evaluation of the experience under the California Earthquake Authority and the Florida Commission on Hurricane Loss Projection Methodology; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03887-01-5
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