|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Nov 20, 2015 |
tabled vetoed memo.228 |
| Nov 10, 2015 |
delivered to governor |
| Jun 11, 2015 |
returned to assembly passed senate substituted for s4276 |
| Jun 11, 2015 |
substituted by a5015 |
| Jun 10, 2015 |
ordered to third reading cal.1458 committee discharged and committed to rules |
| Mar 11, 2015 |
referred to insurance |
Senate Bill S4276
Vetoed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A5015 - Vetoed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Vetoed By Governor
- Signed By Governor
Actions
Votes
2015-S4276 (ACTIVE) - Details
2015-S4276 (ACTIVE) - Summary
Relates to the use of local cost data when adjusting claims; requires an insurer and independent adjuster to adjust certain claims made under an insurance policy that provides coverage for loss of or damage to property using cost data appropriate for the region of this state where the loss or damage occurred.
2015-S4276 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4276
TITLE OF BILL: An act to amend the insurance law, in relation to use
of local cost data when adjusting claims
PURPOSE: To ensure that temporary adjusters and insurers are utilizing
cost data that is regionally appropriate.
SUMMARY OF PROVISIONS: Creates a new subsection (t) in section 2801 of
the insurance law. This bill would require independent adjusters who
are issued a temporary permit by the Superintendent of Financial
Services to utilize cost data that is appropriate for the region of
the state where they are adjusting claims. In addition, insurers, when
certifying to the Superintendent that such adjusters have the training
and experience necessary to adjust claims, would also have to certify
that the adjusters will use regionally appropriate cost data.
JUSTIFICATION: Super Storm Sandy wreaked havoc in New York resulting.
in over $60 billion in damages. Thousands of claims were filed and the
need to quickly provide relief to those who lost their homes and
livelihoods forced insurance companies to import hundreds of
out-of-state adjustors from across the country to handle the work
load.
Out-of-state insurance adjusters are equipped with computer software
that is supposed to adjust for local cost data to reflect the costs
2015-S4276 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4276
2015-2016 Regular Sessions
I N S E N A T E
March 11, 2015
___________
Introduced by Sen. GOLDEN -- 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 use of local cost data
when adjusting claims
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 2108 of the insurance law is amended by adding a
new subsection (t) to read as follows:
(T) AN INSURER AND INDEPENDENT ADJUSTER, INCLUDING AN INDEPENDENT
ADJUSTER RECEIVING A PERMIT UNDER SUBSECTION (N) OF THIS SECTION, SHALL
ADJUST A CLAIM MADE UNDER AN INSURANCE POLICY THAT PROVIDES COVERAGE FOR
LOSS OF OR DAMAGE TO REAL OR PERSONAL PROPERTY USING COST DATA APPROPRI-
ATE FOR THE REGION OF THIS STATE WHERE THE LOSS OR DAMAGE OCCURRED. THIS
SUBSECTION SHALL NOT APPLY TO AUTOMOBILE INSURANCE POLICIES.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00497-01-5
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