Bill Text: NY A02884 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to commercial crime coverage exclusions.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2020-01-08 - referred to insurance [A02884 Detail]
Download: New_York-2019-A02884-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2884 2019-2020 Regular Sessions IN ASSEMBLY January 28, 2019 ___________ Introduced by M. of A. PICHARDO -- read once and referred to the Commit- tee on Insurance AN ACT to amend the insurance law, in relation to commercial crime coverage exclusions The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The insurance law is amended by adding a new section 3457 2 to read as follows: 3 § 3457. Commercial crime coverage exclusions. (a) Definitions. As used 4 in this section: 5 (1) "commercial crime coverage" means coverage under a policy of 6 commercial risk insurance that provides burglary and theft insurance or 7 fidelity insurance; and 8 (2) "commercial risk insurance" shall have the same meaning as set 9 forth in paragraph forty-seven of subsection (a) of section one hundred 10 seven of this chapter. 11 (b) No policy issued, renewed or delivered in this state that provides 12 commercial crime coverage may exclude or limit coverage for loss or 13 damage caused by an employee if: 14 (1) the employee was convicted of one or more criminal offenses in 15 this state or any other jurisdiction prior to being employed by the 16 employer; and 17 (2) after learning about an employee's past criminal conviction or 18 convictions, the employer made a determination to hire or retain the 19 employee pursuant to article twenty-three-A of the correction law. 20 (c) A violation of this section shall be deemed to be an unfair method 21 of competition or an unfair or deceptive act and practice in the conduct 22 of the business of insurance in this state, and shall be deemed to be a 23 trade practice constituting a determined violation, as defined in 24 subsection (c) of section two thousand four hundred two of this chapter, 25 in violation of section two thousand four hundred three of this chapter. 26 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06399-01-9