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