NY S02814 | 2023-2024 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 24 2023 - 25% progression
Action: 2024-01-03 - REFERRED TO INSURANCE
Pending: Senate Insurance Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 24 2023 - 25% progression
Action: 2024-01-03 - REFERRED TO INSURANCE
Pending: Senate Insurance Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Provides that payment of interest penalty and attorney fees to claimant when payment of a claim is overdue shall be exclusive remedy when insurer fails to make timely payment; provides such failure of insurer to make timely payment or issue denial within 30 days after proof of claim has been submitted to insurer shall not preclude such insurer from issuing a denial or asserting a defense after the 30 day period has elapsed.
Title
Provides that payment of interest penalty and attorney fees to claimant when payment of a claim is overdue shall be exclusive remedy when insurer fails to make timely payment; provides such failure of insurer to make timely payment or issue denial within 30 days after proof of claim has been submitted to insurer shall not preclude such insurer from issuing a denial or asserting a defense after the 30 day period has elapsed.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-03 | Senate | REFERRED TO INSURANCE |
| 2023-01-24 | Senate | REFERRED TO INSURANCE |
