S T A T E   O F   N E W   Y O R K
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                                  2902--A
                                                         Cal. No. 123
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2019
                                ___________
 
 Introduced  by  M.  of  A.  PHEFFER AMATO,  JONES,  ORTIZ, COOK, CRESPO,
   M. L. MILLER, DiPIETRO, WALLACE, BENEDETTO, GRIFFIN, FERNANDEZ -- read
   once and referred to the Committee on Insurance -- ordered to a  third
   reading,  amended  and  ordered  reprinted, retaining its place on the
   order of third reading
 
 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 TWENTY WHICH ADDED  THIS
 SUBSECTION. NOTWITHSTANDING PARAGRAPH SEVEN OF SUBSECTION (A) OF SECTION
 THREE  THOUSAND FOUR HUNDRED TWENTY-FIVE OF THIS ARTICLE, ANY CHANGES IN
 A HOMEOWNER'S INSURANCE POLICY OR DWELLING,  FIRE,  OR  PERSONAL  POLICY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD03722-02-0

 A. 2902--A                          2
 
 REGISTERED  AS  A  RESULT OF THE ADOPTION BY THE SUPERINTENDENT OF REGU-
 LATIONS UNDER THIS SECTION, MAY BE APPLIED TO SUCH POLICIES ON THE POLI-
 CY'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.