Bill Text: NY A04601 | 2011-2012 | General Assembly | Introduced
Bill Title: Requires the removal from an insured's record of claims any claim made in good faith and paid for lost property which was not lost and the insured reimbursed the insurer for the claim after the lost property is found.
Spectrum: Partisan Bill (Democrat 15-0)
Status: (Engrossed - Dead) 2012-06-11 - ordered to third reading rules cal.85 [A04601 Detail]
Download: New_York-2011-A04601-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 4601 2011-2012 Regular Sessions I N A S S E M B L Y February 4, 2011 ___________ Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to requiring insurers of property to eliminate from the claims record of an insured, any claim of loss made and paid in good faith, which is discovered to be false and the proceeds of such claim are repaid to the insurer 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 3407-b 2 to read as follows: 3 S 3407-B. PROPERTY INSURANCE; CLAIM OF LOSS. THE GOOD FAITH CLAIM OF 4 THE LOSS OF ANY PROPERTY WHICH A PERSON HAS INSURED AGAINST LOSS OR 5 DAMAGE UNDER ANY CONTRACT OF INSURANCE, ISSUED OR DELIVERED IN THIS 6 STATE OR COVERING PROPERTY LOCATED IN THIS STATE, SHALL BE REMOVED FROM 7 THE RECORD OF CLAIMS MADE BY THE INSURED, FOR ALL PURPOSES, WHEN THE 8 INSURED SUBSEQUENTLY FINDS THAT SUCH PROPERTY WAS NOT LOST AND REPAYS TO 9 THE INSURER ALL MONEY, IF ANY, PAID PURSUANT TO SUCH CLAIM. 10 S 2. This act shall take effect immediately and shall apply to claims 11 made on, before or after such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08821-01-1