Bill Text: NY A05804 | 2019-2020 | General Assembly | Introduced

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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 8-0)

Status: (Introduced - Dead) 2020-01-08 - referred to insurance [A05804 Detail]

Download: New_York-2019-A05804-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5804
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 19, 2019
                                       ___________
        Introduced  by M. of A. ENGLEBRIGHT, COLTON, GUNTHER, CAHILL, ZEBROWSKI,
          WEPRIN -- Multi-Sponsored by -- M. of A. ABINANTI, RIVERA -- 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    § 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    §  2. This act shall take effect immediately and shall apply to claims
    11  made on or after such effective date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09851-01-9