S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6665--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 13, 2017
                                ___________
 
 Introduced  by  M.  of  A.  PHEFFER AMATO,  JONES,  ORTIZ, COOK, CRESPO,
   M. L. MILLER, DiPIETRO, HARRIS  --  read  once  and  referred  to  the
   Committee on Insurance -- recommitted to the Committee on Insurance in
   accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN  ACT  to amend the insurance law, in relation to homeowners insurance
   deductibles triggers
 
   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:
   § 3445. Windstorm insurance notice; DEDUCTIBLE TRIGGER STANDARDS.  (A)
 The superintendent shall by regulation establish disclosure requirements
 with respect to the operation of any deductible in a homeowner's  insur-
 ance  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,  the
 circumstances  under  which the deductible applies and any other matters
 which the superintendent, in his or her discretion, shall deem necessary
 or appropriate.
   (B) THE SUPERINTENDENT SHALL BY  REGULATION  ESTABLISH  STANDARDS  FOR
 HURRICANE  WINDSTORM  DEDUCTIBLES,  WHICH CREATE, TO THE GREATEST EXTENT
 POSSIBLE, UNIFORMITY IN THE OPERATION OF SUCH DEDUCTIBLES  WITH  RESPECT
 TO THE TRIGGERING EVENT.
   THE  SUPERINTENDENT  SHALL  PROMULGATE  SUCH  REGULATIONS BY EMERGENCY
 ADOPTION OR OTHERWISE, WITHIN ONE HUNDRED EIGHTY DAYS OF  THE  EFFECTIVE
 DATE  OF  THE  CHAPTER  OF THE LAWS OF TWO THOUSAND EIGHTEEN WHICH ADDED
 THIS SUBSECTION. NOTWITHSTANDING PARAGRAPH SEVEN OF  SUBSECTION  (A)  OF
 SECTION  THREE  THOUSAND  FOUR  HUNDRED TWENTY-FIVE OF THIS ARTICLE, ANY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD07834-03-8

 A. 6665--A                          2
 
 CHANGES IN A HOMEOWNER'S INSURANCE POLICY OR DWELLING, FIRE, OR PERSONAL
 POLICY REGISTERED AS A RESULT OF THE ADOPTION BY THE  SUPERINTENDENT  OF
 REGULATIONS  UNDER  THIS SECTION, MAY BE APPLIED TO SUCH POLICIES ON THE
 POLICY'S  INITIAL RENEWAL DATE OR THE POLICY'S NEXT ANNUAL RENEWAL AFTER
 THE EFFECTIVE DATE OF SUCH REGULATIONS.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have  become a law, and shall apply to all policies issued or renewed on
 or after the one hundred eightieth day after the adoption of  the  regu-
 lations  required  in  section  3445 of the insurance law, as amended by
 this act.