Legislation
SECTION 3445
Windstorm insurance notice
Insurance (ISC) CHAPTER 28, ARTICLE 34
* § 3445. Windstorm insurance notice. The superintendent shall by
regulation establish disclosure requirements with respect to the
operation of any deductible in a homeowner's insurance 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.
* NB Effective until February 20, 2025
* § 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 insurance 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-three 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 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.
* NB Effective February 20, 2025
regulation establish disclosure requirements with respect to the
operation of any deductible in a homeowner's insurance 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.
* NB Effective until February 20, 2025
* § 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 insurance 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-three 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 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.
* NB Effective February 20, 2025