Assembly Bill A10343

2023-2024 Legislative Session

Relates to anti-concurrent causation clauses

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Current Bill Status - Passed Senate & Assembly

  • 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

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2023-A10343 (ACTIVE) - Details

See Senate Version of this Bill:
S9421
Law Section:
Insurance Law
Laws Affected:
Add §3416, Ins L

2023-A10343 (ACTIVE) - Summary

Requires insurance policies which cover certain water or water-borne material damage also cover certain damage caused directly or indirectly by an excluded peril contributing concurrently or in any sequence.

2023-A10343 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10343
 
                           I N  A S S E M B L Y
 
                               May 17, 2024
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weprin) --
   (at request of the Department of Financial Services) -- read once  and
   referred to the Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to anti-concurrent causa-
   tion clauses
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The insurance law is amended by adding a new  section  3416
 to read as follows:
   § 3416. ANTI-CONCURRENT CAUSATION CLAUSES; WATER BACK UP OR DISCHARGE.
 (A)  WHEN AN INSURANCE POLICY PROVIDES COVERAGE FOR LOSS OF OR DAMAGE TO
 PROPERTY RESULTING FROM WATER OR  WATER-BORNE  MATERIAL  THAT  BACKS  UP
 THROUGH  SEWERS  OR  DRAINS,  OR OVERFLOWS OR IS DISCHARGED FROM A SUMP,
 SUMP PUMP, OR RELATED EQUIPMENT, THE POLICY SHALL NOT  EXCLUDE  COVERAGE
 FOR  ANY  LOSS  OF OR DAMAGE TO PROPERTY RESULTING FROM THE FOREGOING ON
 THE GROUND THAT THE LOSS OR DAMAGE ALSO MAY HAVE BEEN CAUSED DIRECTLY OR
 INDIRECTLY BY AN EXCLUDED PERIL  CONTRIBUTING  CONCURRENTLY  OR  IN  ANY
 SEQUENCE TO CAUSE THE LOSS.
   (B)  FOR  THE PURPOSE OF THIS SECTION, "INSURANCE POLICY" SHALL MEAN A
 POLICY ISSUED OR ISSUED FOR DELIVERY IN THIS STATE THAT PROVIDES  COVER-
 AGE  FOR:  (1) LOSS OF OR DAMAGE TO REAL PROPERTY USED PREDOMINATELY FOR
 RESIDENTIAL PURPOSES AND THAT CONSISTS OF NOT MORE  THAN  FOUR  DWELLING
 UNITS,  OTHER  THAN  HOTELS  AND  MOTELS;  OR  (2)  LOSS OF OR DAMAGE TO
 PERSONAL PROPERTY IN WHICH NATURAL PERSONS HAVE AN  INSURABLE  INTEREST,
 EXCEPT PERSONAL PROPERTY USED IN THE CONDUCT OF BUSINESS.
   §  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 such date.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14166-01-4

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