|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Jan 08, 2020 |
referred to codes |
| Jun 13, 2019 |
amend and recommit to rules 5629b |
| Jun 11, 2019 |
reported referred to rules |
| Jun 05, 2019 |
reported referred to codes |
| May 17, 2019 |
print number 5629a |
| May 17, 2019 |
amend and recommit to insurance |
| Feb 14, 2019 |
referred to insurance |
Assembly Bill A5629B
2019-2020 Legislative Session
Sponsored By
WEINSTEIN
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
Bill Amendments
co-Sponsors
Michele Titus
Rebecca Seawright
Kenneth Zebrowski
William Colton
2019-A5629 - Details
2019-A5629 - Summary
Provides that a liability insurer may be sued for and the plaintiff may recover compensatory damages where the insurer failed to effectuate prompt and fair settlement of the claim and considered its interests to the detriment of the insured so as to cause the rendering of a judgment in excess of the policy limits.
2019-A5629 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5629
2019-2020 Regular Sessions
I N A S S E M B L Y
February 14, 2019
___________
Introduced by M. of A. WEINSTEIN, TITUS, SEAWRIGHT, ZEBROWSKI, COLTON,
CYMBROWITZ, JAFFEE, HEVESI, HUNTER, D'URSO, ABINANTI, GOTTFRIED,
TAYLOR -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to maintaining an action
against a liability insurer seeking compensatory damages in excess of
the policy limits where such insurer failed to engage in prompt and
fair settlement of the claim
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3420 of the insurance law is amended by adding a
new subsection (b-1) to read as follows:
(B-1) AN ACTION MAY ALSO BE MAINTAINED BY THE PERSONS IDENTIFIED IN
PARAGRAPHS ONE, TWO AND THREE OF SUBSECTION (B) OF THIS SECTION AGAINST
THE INSURER TO RECOVER COMPENSATORY DAMAGES FROM SUCH INSURER TO THE
FULL EXTENT OF THE JUDGEMENT AGAINST THE INSURED, NOT LIMITED TO THE
POLICY LIMITS AND NOT SUBJECT TO THE LIMITATIONS AND CONDITIONS OF PARA-
GRAPH TWO OF SUBSECTION (A) OF THIS SECTION, WHERE THE INSURER FAILED TO
EFFECTUATE A PROMPT AND FAIR SETTLEMENT OF A CLAIM OR ANY PORTION THERE-
OF, AND THE INSURER FAILED TO REASONABLY ACCORD AT LEAST EQUAL OR MORE
FAVORABLE CONSIDERATION TO ITS INSURED'S INTERESTS AS IT DID TO ITS OWN
INTERESTS, AND THEREBY EXPOSED THE INSURED TO A JUDGEMENT IN EXCESS OF
THE POLICY LIMITS.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00917-01-9
co-Sponsors
Michele Titus
Rebecca Seawright
Kenneth Zebrowski
William Colton
multi-Sponsors
Angelo J. Morinello
2019-A5629A - Details
2019-A5629A - Summary
Provides that a liability insurer may be sued for and the plaintiff may recover compensatory damages where the insurer failed to effectuate prompt and fair settlement of the claim and considered its interests to the detriment of the insured so as to cause the rendering of a judgment in excess of the policy limits.
2019-A5629A - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5629--A
2019-2020 Regular Sessions
I N A S S E M B L Y
February 14, 2019
___________
Introduced by M. of A. WEINSTEIN, TITUS, SEAWRIGHT, ZEBROWSKI, COLTON,
CYMBROWITZ, JAFFEE, HEVESI, HUNTER, D'URSO, ABINANTI, GOTTFRIED,
TAYLOR, MOSLEY, DE LA ROSA -- read once and referred to the Committee
on Insurance -- committee discharged, bill amended, ordered reprinted
as amended and recommitted to said committee
AN ACT to amend the insurance law, in relation to maintaining an action
against a liability insurer seeking compensatory damages in excess of
the policy limits where such insurer failed to engage in prompt and
fair settlement of the claim
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3420 of the insurance law is amended by adding a
new subsection (b-1) to read as follows:
(B-1) AN ACTION MAY ALSO BE MAINTAINED BY THE PERSONS IDENTIFIED IN
PARAGRAPHS ONE, TWO AND THREE OF SUBSECTION (B) OF THIS SECTION AGAINST
THE INSURER TO RECOVER DAMAGES INCLUDING PUNITIVE DAMAGES AS THE COURT
MAY ALLOW, AND INTEREST MEASURED FROM THE TIME OF FAILURE TO OFFER A
FAIR AND REASONABLE SETTLEMENT IN ACCORDANCE WITH THIS SECTION, FROM
SUCH INSURER TO THE FULL EXTENT OF THE JUDGMENT AGAINST THE INSURED, NOT
LIMITED TO THE POLICY LIMITS AND NOT SUBJECT TO THE LIMITATIONS AND
CONDITIONS OF PARAGRAPH TWO OF SUBSECTION (A) OF THIS SECTION, WHERE A
PREPONDERANCE OF THE EVIDENCE ESTABLISHES THAT THE INSURER FAILED TO
EFFECTUATE A PROMPT AND FAIR SETTLEMENT OF A CLAIM OR ANY PORTION THERE-
OF, AND WHERE UNDER THE TOTALITY OF THE FACTS AND CIRCUMSTANCES RELATED
TO THE CLAIM, THE INSURER FAILED TO REASONABLY ACCORD AT LEAST EQUAL OR
MORE FAVORABLE CONSIDERATION TO ITS INSURED'S INTERESTS AS IT DID TO ITS
OWN INTERESTS, AND THEREBY EXPOSED THE INSURED TO A JUDGMENT IN EXCESS
OF THE POLICY LIMITS.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00917-02-9
co-Sponsors
Michele Titus
Rebecca Seawright
Kenneth Zebrowski
William Colton
multi-Sponsors
Angelo J. Morinello
2019-A5629B (ACTIVE) - Details
2019-A5629B (ACTIVE) - Summary
Provides that a liability insurer may be sued for and the plaintiff may recover compensatory damages where the insurer failed to effectuate prompt and fair settlement of the claim and considered its interests to the detriment of the insured so as to cause the rendering of a judgment in excess of the policy limits.
2019-A5629B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5629--B
2019-2020 Regular Sessions
I N A S S E M B L Y
February 14, 2019
___________
Introduced by M. of A. WEINSTEIN, TITUS, SEAWRIGHT, ZEBROWSKI, COLTON,
CYMBROWITZ, JAFFEE, HEVESI, HUNTER, D'URSO, ABINANTI, GOTTFRIED,
TAYLOR, MOSLEY, DE LA ROSA -- Multi-Sponsored by -- M. of A. MORINELLO
-- read once and referred to the Committee on Insurance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee -- reported and referred to the Committee on Codes
-- reported and referred to the Committee on Rules -- Rules Committee
discharged, bill amended, ordered reprinted as amended and recommitted
to the Committee on Rules
AN ACT to amend the insurance law, in relation to maintaining an action
against a liability insurer seeking compensatory damages in excess of
the policy limits where such insurer failed to engage in prompt and
fair settlement of the claim
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3420 of the insurance law is amended by adding a
new subsection (b-1) to read as follows:
(B-1) AN ACTION MAY ALSO BE MAINTAINED BY THE PERSONS IDENTIFIED IN
PARAGRAPHS ONE, TWO AND THREE OF SUBSECTION (B) OF THIS SECTION AGAINST
THE INSURER TO RECOVER DAMAGES INCLUDING COMPENSATORY DAMAGES AND INTER-
EST MEASURED FROM THE TIME OF FAILURE TO OFFER A FAIR AND REASONABLE
SETTLEMENT IN ACCORDANCE WITH THIS SECTION, FROM SUCH INSURER TO THE
FULL EXTENT OF THE JUDGMENT AGAINST THE INSURED, NOT LIMITED TO THE
POLICY LIMITS AND NOT SUBJECT TO THE LIMITATIONS AND CONDITIONS OF PARA-
GRAPH TWO OF SUBSECTION (A) OF THIS SECTION, WHERE A PREPONDERANCE OF
THE EVIDENCE ESTABLISHES THAT THE INSURER FAILED TO EFFECTUATE A PROMPT
AND FAIR SETTLEMENT OF A CLAIM OR ANY PORTION THEREOF, AND WHERE UNDER
THE TOTALITY OF THE FACTS AND CIRCUMSTANCES RELATED TO THE CLAIM, THE
INSURER FAILED TO REASONABLY ACCORD AT LEAST EQUAL OR MORE FAVORABLE
CONSIDERATION TO ITS INSURED'S INTERESTS AS IT DID TO ITS OWN INTERESTS,
AND THEREBY EXPOSED THE INSURED TO A JUDGMENT IN EXCESS OF THE POLICY
LIMITS.
§ 2. This act shall take effect immediately.
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