Senate Bill S9421

2023-2024 Legislative Session

Relates to anti-concurrent causation clauses

download bill text pdf

Sponsored By

Current Bill Status Via A10343 - Passed Senate

  • 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-S9421 (ACTIVE) - Details

See Assembly Version of this Bill:
A10343
Law Section:
Insurance Law
Laws Affected:
Add §3416, Ins L

2023-S9421 (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-S9421 (ACTIVE) - Sponsor Memo

2023-S9421 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9421
 
                             I N  S E N A T E
 
                               May 15, 2024
                                ___________
 
 Introduced by Sen. BRESLIN -- (at request of the Department of Financial
   Services)  --  read  twice and ordered printed, and when printed to be
   committed 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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