Senate Bill S4012

2013-2014 Legislative Session

Authorizes and directs the superintendent of financial services to conduct a study concerning the potential effect of a disaster on the insurance industry of this state

download bill text pdf

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Archive: Last Bill Status - In Senate Committee Insurance 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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2013-S4012 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance
Versions Introduced in Other Legislative Sessions:
2009-2010: S6465
2011-2012: S3604

2013-S4012 (ACTIVE) - Summary

Authorizes and directs the superintendent of financial services to conduct a study concerning the potential effect of a disaster on the insurance industry of this state.

2013-S4012 (ACTIVE) - Sponsor Memo

2013-S4012 (ACTIVE) - Bill Text download pdf 

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

                                  4012

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              March 4, 2013
                               ___________

Introduced  by  Sen.  ADAMS  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT in relation to authorizing and directing  the  superintendent  of
  financial  services to conduct a study concerning the potential effect
  of a disaster on the insurance industry of this state

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

  Section 1. Notwithstanding any other provision of law, the superinten-
dent  of financial services, in consultation with the office of homeland
security, is hereby authorized and directed to prepare or  cause  to  be
prepared  a study to examine, evaluate and make recommendations concern-
ing the potential effect of a disaster,  catastrophic  event,  state  of
emergency  or  any  other event of major destructive consequences on the
insurance industry of this state. Such study shall include the effect of
both natural and man-made disasters within its scope. Natural  disasters
to  be studied shall include, but not be limited to, disasters occurring
from rain, sleet, ice, snow, wind or  extreme  heat  or  cold.  Man-made
disasters  to  be  studied shall include, but not be limited to, acts of
terrorism, acts of war, strikes or mass riots. Such  study  shall  focus
primarily  on  the preparedness and ability of the insurance industry to
function in the event of such a disaster and what procedures and  proto-
cols  may  be  implemented to improve such functionality, as well as any
other issues the superintendent of financial services deems relevant.
  S 2. The superintendent of financial  services  shall  report  to  the
governor  and  the  legislature  the  findings  of the study required by
section one of this act along with his  or  her  recommendations  on  or
before January 1, 2014.
  S 3. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05550-01-3

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