NY A01119 | 2023-2024 | General Assembly

Status

Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on January 13 2023 - 25% progression
Action: 2024-01-03 - referred to insurance
Pending: Assembly Insurance Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Provides that an insurer doing business in this state shall be liable to a policy holder for such insurer's refusal to pay or unreasonable delay of payment to the policy holder if such refusal or delay was not substantially justified; enumerates instances whereby an insurer's refusal or delay of payment is not substantially justified including intentional negligence, failure to act in good faith, failure to provide written denial of claim, failure to make final determination of claim within six months, and failure to promptly proceed with the appraisal process.

Tracking Information

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Title

Provides that an insurer doing business in this state shall be liable to a policy holder for such insurer's refusal to pay or unreasonable delay of payment to the policy holder if such refusal or delay was not substantially justified; enumerates instances whereby an insurer's refusal or delay of payment is not substantially justified including intentional negligence, failure to act in good faith, failure to provide written denial of claim, failure to make final determination of claim within six months, and failure to promptly proceed with the appraisal process.

Sponsors


History

DateChamberAction
2024-01-03Assemblyreferred to insurance
2023-01-13Assemblyreferred to insurance

Same As/Similar To

S02487 (Same As) 2024-01-03 - REFERRED TO INSURANCE

New York State Sources


Bill Comments

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