Senate Bill S4724A

2015-2016 Legislative Session

Relates to verification of claims made under the comprehensive motor vehicle insurance reparations act

download bill text pdf

Sponsored By

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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Bill Amendments

co-Sponsors

2015-S4724 - Details

See Assembly Version of this Bill:
A6421
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §5106, Ins L
Versions Introduced in Other Legislative Sessions:
2017-2018: S5509, A3571
2019-2020: S3003, A3053
2021-2022: A5699
2023-2024: A1541

2015-S4724 - Summary

Relates to verification of claims made under the comprehensive motor vehicle insurance reparations act.

2015-S4724 - Sponsor Memo

2015-S4724 - Bill Text download pdf

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

                                  4724

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             April 10, 2015
                               ___________

Introduced  by  Sen. MARTINS -- 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 verification of claims
  made under the comprehensive motor vehicle insurance reparations act

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

  Section  1.  Section  5106  of  the  insurance  law, subsection (b) as
amended and subsection (d) as added by chapter 452 of the laws of  2005,
is amended to read as follows:
  S  5106.  Fair claims settlement. (a) Payments of first party benefits
and additional first party  benefits  shall  be  made  as  the  loss  is
incurred.    Such  benefits  are  overdue if not paid within thirty days
after the claimant supplies  proof  of  the  fact  and  amount  of  loss
sustained.  If  proof is not supplied as to the entire claim, the amount
which is supported by proof is overdue if not paid  within  thirty  days
after  such  proof is supplied. All overdue payments shall bear interest
at the rate of two percent per month. If a valid claim  or  portion  was
overdue,  the  claimant shall also be entitled to recover his attorney's
reasonable fee, for services necessarily performed  in  connection  with
securing payment of the overdue claim, subject to limitations promulgat-
ed by the superintendent in regulations.
  (b)  THE  INSURER IS ENTITLED TO RECEIVE ALL ITEMS NECESSARY TO VERIFY
THE CLAIM, INCLUDING MEDICAL EXAMINATION AND EXAMINATION UNDER  OATH  OF
THE INJURED PARTY OR ANY ADDITIONAL VERIFICATION REQUIRED BY THE INSURER
TO  ESTABLISH PROOF OF CLAIM. THE FAILURE OF THE INJURED PARTY TO APPEAR
FOR A SCHEDULED MEDICAL EXAMINATION OR  EXAMINATION  UNDER  OATH  OR  TO
PROVIDE  ANY  OTHER  ADDITIONAL  VERIFICATION  SHALL NEITHER BE A POLICY
VIOLATION NOR BE UTILIZED AS THE BASIS FOR THE  DENIAL  OF  A  CLAIM  OR
DISCLAIMER,  PROVIDED  THE  INJURED PARTY SUBMITS TO THE INSURER WRITTEN
PROOF OFFERING EITHER (1) REASONABLE JUSTIFICATION FOR  THE  FAILURE  TO
COMPLY; OR (2) A DEMONSTRABLE WILLINGNESS TO COMPLY WITHIN THIRTY CALEN-
DAR DAYS FROM THE DATE OF THE INJURED PARTY'S FAILURE TO APPEAR OR OTHER
VERIFICATION  BECOMES  OVERDUE.  IF  SUCH  WRITTEN PROOF IS NOT PROVIDED
WITHIN A REASONABLE TIME PERIOD, THE INSURER MAY ONLY DENY THAT  PORTION

              

co-Sponsors

2015-S4724A (ACTIVE) - Details

See Assembly Version of this Bill:
A6421
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §5106, Ins L
Versions Introduced in Other Legislative Sessions:
2017-2018: S5509, A3571
2019-2020: S3003, A3053
2021-2022: A5699
2023-2024: A1541

2015-S4724A (ACTIVE) - Summary

Relates to verification of claims made under the comprehensive motor vehicle insurance reparations act.

2015-S4724A (ACTIVE) - Sponsor Memo

2015-S4724A (ACTIVE) - Bill Text download pdf

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

                                 4724--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             April 10, 2015
                               ___________

Introduced  by  Sens. MARTINS, ADDABBO, AMEDORE, DILAN, LATIMER, PARKER,
  RITCHIE, SAVINO -- 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 verification of claims
  made under the comprehensive motor vehicle insurance reparations act

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

  Section  1.  Section  5106  of  the  insurance  law, subsection (b) as
amended and subsection (d) as added by chapter 452 of the laws of  2005,
is amended to read as follows:
  S  5106.  Fair claims settlement. (a) Payments of first party benefits
and additional first party  benefits  shall  be  made  as  the  loss  is
incurred.    Such  benefits  are  overdue if not paid within thirty days
after the claimant supplies  proof  of  the  fact  and  amount  of  loss
sustained.  If  proof is not supplied as to the entire claim, the amount
which is supported by proof is overdue if not paid  within  thirty  days
after  such  proof is supplied. All overdue payments shall bear interest
at the rate of two percent per month. If a valid claim  or  portion  was
overdue,  the  claimant shall also be entitled to recover his attorney's
reasonable fee, for services necessarily performed  in  connection  with
securing payment of the overdue claim, subject to limitations promulgat-
ed by the superintendent in regulations.
  (b)  THE  INSURER IS ENTITLED TO RECEIVE ALL ITEMS NECESSARY TO VERIFY
THE CLAIM, INCLUDING MEDICAL EXAMINATION AND EXAMINATION UNDER  OATH  OF
THE INJURED PARTY OR ANY ADDITIONAL VERIFICATION REQUIRED BY THE INSURER
TO  ESTABLISH PROOF OF CLAIM. THE FAILURE OF THE INJURED PARTY TO APPEAR
FOR A SCHEDULED MEDICAL EXAMINATION OR  EXAMINATION  UNDER  OATH  OR  TO
PROVIDE  ANY  OTHER  ADDITIONAL  VERIFICATION  SHALL NEITHER BE A POLICY
VIOLATION NOR BE UTILIZED AS THE BASIS FOR THE  DENIAL  OF  A  CLAIM  OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09927-03-5
              

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