Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 14, 2014 |
recommit, enacting clause stricken |
Jan 08, 2014 |
referred to insurance returned to senate died in assembly |
Jun 11, 2013 |
referred to insurance delivered to assembly passed senate |
Jun 05, 2013 |
advanced to third reading |
Jun 04, 2013 |
2nd report cal. |
Jun 03, 2013 |
1st report cal.949 |
May 16, 2013 |
print number 3771a |
May 16, 2013 |
amend (t) and recommit to insurance |
Feb 14, 2013 |
referred to insurance |
Senate Bill S3771A
2013-2014 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - Stricken
- 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
Votes
Bill Amendments
2013-S3771 - Details
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§2108 & 2110, Ins L
2013-S3771 - Sponsor Memo
BILL NUMBER:S3771 TITLE OF BILL: An act to amend the insurance law, in relation to public adjusters PURPOSE: The purpose of this bill is to establish conflict of interest rules so that public adjusters have an affirmative duty to act on behalf of and in the best interests of the insured who have retained them when settling or negotiating an insurance claim for such insured. In addition, such adjuster cannot have a financial interest in any business that he or she recommends to an insured for the performance of services, work or repairs associated with the insurance claim that is being negotiated. SUMMARY OF PROVISIONS: Section 1: Amends Insurance Law section 2108(a) to add new paragraphs (5), (6), and (7). New paragraph (5) places on the public adjuster an affirmative duty to act on behalf of and in the best interests of the insured when settling or negotiating an insurance claim for such insured. New paragraph (6) prohibits a public adjuster from receiving any compensation or receive anything of value, other than of nominal value, either directly or indirectly, in consideration of referral of an insured, or upon the recommendation or suggestion that services, work or repairs relating to any insurance claim settled or negotiated by such public adjuster. And a new paragraph (7), that prohibits a
2013-S3771 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3771 2013-2014 Regular Sessions I N S E N A T E February 14, 2013 ___________ Introduced by Sen. KLEIN -- 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 public adjusters THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (a) of section 2108 of the insurance law is amended by adding three new paragraphs 5, 6 and 7 to read as follows: (5) EACH PUBLIC ADJUSTER SHALL HAVE AN AFFIRMATIVE DUTY TO ACT ON BEHALF OF AND IN THE BEST INTERESTS OF THE INSURED WHEN SETTLING OR NEGOTIATING AN INSURANCE CLAIM FOR SUCH INSURED. (6) NO PUBLIC ADJUSTER SHALL RECEIVE ANY COMPENSATION OR RECEIVE ANYTHING OF VALUE, OTHER THAN OF NOMINAL VALUE, EITHER DIRECTLY OR INDI- RECTLY, IN CONSIDERATION OF A REFERRAL OF AN INSURED, OR UPON THE RECOM- MENDATION OR SUGGESTION THAT SERVICES, WORK OR REPAIRS, RELATING TO ANY INSURANCE CLAIM SETTLED OR NEGOTIATED BY THE PUBLIC ADJUSTER, BE PERFORMED BY A PARTICULAR ENTITY OR INDIVIDUAL. (7) A PUBLIC ADJUSTER SHALL NOT RECOMMEND OR SUGGEST THAT SERVICES, WORK OR REPAIRS BE PERFORMED BY A PARTICULAR ENTITY OR INDIVIDUAL UNLESS EXPRESSLY REQUESTED BY THE INSURED. S 2. Paragraph 1 of subsection (c) of section 2108 of the insurance law is amended to read as follows: (1) The superintendent may issue an independent adjuster's license or a public adjuster's license to any person, firm, association or corpo- ration, hereinafter designated as licensee, who, or which, is trustwor- thy and competent to act as an adjuster in such manner as to safeguard the interests of the people of this state and who, or which, has complied with the prerequisites herein prescribed. FURTHERMORE, EVERY PERSON, FIRM, ASSOCIATION AND CORPORATION LICENSED AS A PUBLIC ADJUSTER SHALL ACT IN SUCH A MANNER AS TO SAFEGUARD THE BEST INTERESTS OF THE INSUREDS WHICH HE, SHE OR IT REPRESENTS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08964-01-3
co-Sponsors
(R, C) 7th Senate District
2013-S3771A (ACTIVE) - Details
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§2108 & 2110, Ins L
2013-S3771A (ACTIVE) - Sponsor Memo
BILL NUMBER:S3771A TITLE OF BILL: An act to amend the insurance law, in relation to public adjusters and payment of property/casualty claims PURPOSE: The purpose of this bill is to clearly establish conflict of interest Rules, in statute, so that public adjusters have an affirmative duty to act on behalf of and in the best interests of the insured who have retained such adjuster when settling or negotiating an insurance claim for such insured. In addition, such adjuster or their close family relatives, cannot have a financial interest in any business that he or she recommends to an insured for the performance of services, work or repairs associated with the insurance claim that is being negotiated, unless such financial interest is clearly disclosed and acknowledged by the insured in writing. SUMMARY OF PROVISIONS: Section 1: Amends Insurance Law section 2108(a) to add new paragraphs (5) and (6). New paragraph (5) places on the public adjuster an affirmative duty to act on behalf of and in the best interests of the insured when settling or negotiating an insurance claim for such insured. New paragraph (6) prohibits a public adjuster from receiving any compensation or receive anything of value, other than of nominal value, either directly or indirectly, in consideration of the referral
2013-S3771A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3771--A 2013-2014 Regular Sessions I N S E N A T E February 14, 2013 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed 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 public adjusters and payment of property/casualty claims THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (a) of section 2108 of the insurance law is amended by adding two new paragraphs 5 and 6 to read as follows: (5) EACH PUBLIC ADJUSTER SHALL HAVE AN AFFIRMATIVE DUTY TO ACT ON BEHALF OF AND IN THE BEST INTERESTS OF THE INSURED WHEN SETTLING OR NEGOTIATING AN INSURANCE CLAIM FOR SUCH INSURED. (6) (I) NO PUBLIC ADJUSTER SHALL RECEIVE ANY COMPENSATION OR RECEIVE ANYTHING OF VALUE, OTHER THAN OF NOMINAL VALUE, EITHER DIRECTLY OR INDI- RECTLY, IN CONSIDERATION OF A REFERRAL OF AN INSURED, OR UPON THE RECOM- MENDATION OR SUGGESTION THAT SERVICES, WORK OR REPAIRS, RELATING TO ANY INSURANCE CLAIM SETTLED OR NEGOTIATED BY THE PUBLIC ADJUSTER, BE PERFORMED BY A PARTICULAR ENTITY OR INDIVIDUAL. (II) PROVIDED, HOWEVER, THAT A PUBLIC ADJUSTER MAY RECEIVE COMPEN- SATION FOR A REFERRAL OF SERVICES, WORK OR REPAIRS, OR HAVE A FINANCIAL OR OWNERSHIP INTEREST IN A BUSINESS THAT PERFORMS SUCH SERVICES, WORK OR REPAIRS, IF SUCH REFERRAL FEE, OR FINANCIAL OR OWNERSHIP INTEREST IS PROMINENTLY AND CLEARLY DISCLOSED TO THE INSURED IN THE COMPENSATION AGREEMENT WITH SUCH PUBLIC ADJUSTER OR IN ANOTHER CONTRACT OR DISCLOSURE FORM THAT IS SIGNED BY BOTH THE PUBLIC ADJUSTER AND THE INSURED. THE AGGREGATE OF ALL FEES RECEIVED BY SUCH PUBLIC ADJUSTER SHALL NOT EXCEED THE MAXIMUM COMPENSATION OR FEE PROVIDED FOR IN SUCH COMPENSATION AGREE- MENT. S 2. Paragraph 1 of subsection (c) of section 2108 of the insurance law is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08964-04-3
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.