Senate Bill S2338B

2013-2014 Legislative Session

Directs the special advisory panel on homeowners' insurance/catastrophe coverage to study certain facets of insurance in coastal areas

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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

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Bill Amendments

co-Sponsors

2013-S2338 - Details

See Assembly Version of this Bill:
A5312
Current Committee:
Assembly Insurance
Law Section:
Insurance
Laws Affected:
Amd §12, Chap 42 of 1996; amd §23, Chap 136 of 2008
Versions Introduced in Other Legislative Sessions:
2009-2010: S8110, A11486
2011-2012: S1027, A5215
2015-2016: S856, A6385
2017-2018: S3971, A7469

2013-S2338 - Summary

Directs the special advisory panel on homeowners' insurance/catastrophe coverage to study certain facets of profitability of insurance in coastal areas.

2013-S2338 - Sponsor Memo

2013-S2338 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2338

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 16, 2013
                               ___________

Introduced  by  Sens.  KLEIN,  BRESLIN, SAVINO -- read twice and ordered
  printed, and when printed to be committed to the Committee  on  Insur-
  ance

AN  ACT  to  amend chapter 42 of the laws of 1996 amending the insurance
  law relating to homeowners' insurance and a temporary panel  on  home-
  owners'  insurance coverage, in relation to the special advisory panel
  on homeowners' insurance/catastrophe coverage; and  to  amend  chapter
  136 of the laws of 2008 amending the insurance law relating to extend-
  ing the effectiveness of certain stand-by powers of the New York prop-
  erty  insurance  underwriting  association, in relation to the program
  designed to attract more  competitors  to  the  homeowners'  insurance
  market

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 12 of chapter 42 of  the  laws  of
1996  amending the insurance law relating to homeowners' insurance and a
temporary panel on homeowners' insurance coverage, as amended by chapter
136 of the laws of 2008, is amended to read as follows:
  (1) The superintendent of [insurance]  FINANCIAL  SERVICES  is  hereby
directed   to   convene   a   special   advisory  panel  on  homeowners'
insurance/catastrophe coverage,  to  examine  and  assess  the  problems
affecting the availability and affordability of homeowners' insurance in
this state and the effect thereon created by any potential major weather
catastrophe.    The panel shall study and report on the following issues
on or before November 30, [2009] 2014, and on an [annual] BIENNIAL basis
thereafter:
  (a) a review of  FEDERAL  LEGISLATION  AND  other  states'  activities
regarding  catastrophe related coverage, including but not limited to an
evaluation of the experience under the California  Earthquake  Authority
and  the  Florida  [Commission on Hurricane Loss Projection Methodology]
HURRICANE CATASTROPHE FUND;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06594-01-3
              

co-Sponsors

2013-S2338A - Details

See Assembly Version of this Bill:
A5312
Current Committee:
Assembly Insurance
Law Section:
Insurance
Laws Affected:
Amd §12, Chap 42 of 1996; amd §23, Chap 136 of 2008
Versions Introduced in Other Legislative Sessions:
2009-2010: S8110, A11486
2011-2012: S1027, A5215
2015-2016: S856, A6385
2017-2018: S3971, A7469

2013-S2338A - Summary

Directs the special advisory panel on homeowners' insurance/catastrophe coverage to study certain facets of profitability of insurance in coastal areas.

2013-S2338A - Sponsor Memo

2013-S2338A - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2338--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 16, 2013
                               ___________

Introduced  by  Sens.  KLEIN,  BRESLIN, SAVINO -- read twice and ordered
  printed, and when printed to be committed to the Committee  on  Insur-
  ance  --  committee  discharged,  bill  amended,  ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend chapter 42 of the laws of 1996  amending  the  insurance
  law  relating  to homeowners' insurance and a temporary panel on home-
  owners' insurance coverage, in relation to the special advisory  panel
  on  homeowners'  insurance/catastrophe  coverage; and to amend chapter
  136 of the laws of 2008 amending the insurance law relating to extend-
  ing the effectiveness of certain stand-by powers of the New York prop-
  erty insurance underwriting association, in relation  to  the  program
  designed  to  attract  more  competitors  to the homeowners' insurance
  market

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  1 of section 12 of chapter 42 of the laws of
1996 amending the insurance law relating to homeowners' insurance and  a
temporary panel on homeowners' insurance coverage, as amended by chapter
136 of the laws of 2008, is amended to read as follows:
  (1)  The  superintendent  of  [insurance] FINANCIAL SERVICES is hereby
directed  to  convene  a   special   advisory   panel   on   homeowners'
insurance/catastrophe  coverage,  to  examine  and  assess  the problems
affecting the availability and affordability of homeowners' insurance in
this state and the effect thereon created by any potential major weather
catastrophe.  The panel shall study and report on the  following  issues
on or before November 30, [2009] 2014, and on an [annual] BIENNIAL basis
thereafter:
  (a)  a  review  of  FEDERAL  LEGISLATION  AND other states' activities
regarding catastrophe related coverage, including but not limited to  an
evaluation  of  the experience under the California Earthquake Authority
and the Florida Commission on Hurricane Loss Projection Methodology;
  (b) an evaluation of the effectiveness of any voluntary market assist-
ance program in effect in New York WITH PARTICULAR ATTENTION DEVOTED  TO
MARKET DYNAMICS IN THE COASTAL HOMEOWNERS' INSURANCE MARKET;

              

co-Sponsors

2013-S2338B (ACTIVE) - Details

See Assembly Version of this Bill:
A5312
Current Committee:
Assembly Insurance
Law Section:
Insurance
Laws Affected:
Amd §12, Chap 42 of 1996; amd §23, Chap 136 of 2008
Versions Introduced in Other Legislative Sessions:
2009-2010: S8110, A11486
2011-2012: S1027, A5215
2015-2016: S856, A6385
2017-2018: S3971, A7469

2013-S2338B (ACTIVE) - Summary

Directs the special advisory panel on homeowners' insurance/catastrophe coverage to study certain facets of profitability of insurance in coastal areas.

2013-S2338B (ACTIVE) - Sponsor Memo

2013-S2338B (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2338--B

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 16, 2013
                               ___________

Introduced  by  Sens.  KLEIN,  BRESLIN, SAVINO -- read twice and ordered
  printed, and when printed to be committed to the Committee  on  Insur-
  ance  --  committee  discharged,  bill  amended,  ordered reprinted as
  amended and recommitted  to  said  committee  --  recommitted  to  the
  Committee  on  Insurance  in  accordance with Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend chapter 42 of the laws of 1996 amending the insurance
  law relating to homeowners' insurance and a temporary panel  on  home-
  owners'  insurance coverage, in relation to the special advisory panel
  on homeowners' insurance/catastrophe coverage; and  to  amend  chapter
  136 of the laws of 2008 amending the insurance law relating to extend-
  ing the effectiveness of certain stand-by powers of the New York prop-
  erty  insurance  underwriting  association, in relation to the program
  designed to attract more  competitors  to  the  homeowners'  insurance
  market

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 12 of chapter 42 of  the  laws  of
1996  amending the insurance law relating to homeowners' insurance and a
temporary panel on homeowners' insurance coverage, as amended by chapter
136 of the laws of 2008, is amended to read as follows:
  (1) The superintendent of [insurance]  FINANCIAL  SERVICES  is  hereby
directed   to   convene   a   special   advisory  panel  on  homeowners'
insurance/catastrophe coverage,  to  examine  and  assess  the  problems
affecting the availability and affordability of homeowners' insurance in
this state and the effect thereon created by any potential major weather
catastrophe.    The panel shall study and report on the following issues
on or before November 30, [2009] 2015, and on  [an  annual]  A  BIENNIAL
basis thereafter:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06594-06-4

              

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