Bill Text: NY S06493 | 2015-2016 | General Assembly | Introduced

New York Senate Bill 6493 (Prior Session Legislation)

Introduced

Bill Title: Provides for the reduction of property/casualty insurance premiums on residential real property when the insured occupant completes a homeowner natural disaster preparedness, home safety and loss prevention course.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2016-01-20 - REFERRED TO INSURANCE [S06493 Detail]

Download: New_York-2015-S06493-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          6493
                    IN SENATE
                                    January 20, 2016
                                       ___________
        Introduced  by  Sens.  KLEIN,  AVELLA,  SAVINO -- read twice and ordered
          printed, and when printed to be committed to the Committee  on  Insur-
          ance
        AN  ACT to amend the insurance law, in relation to reduction in rates of
          property/casualty insurance on residential property for  insureds  who
          complete  an  approved  homeowner  natural disaster preparedness, home
          safety and loss prevention course
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.    Legislative  intent.  The legislature declares that the
     2  purpose of this act is to clearly provide in  statute  for  insurers  to
     3  offer  and  for  homeowners,  condominium  owners, cooperative apartment
     4  owners, and renters to obtain a financial incentive if they  complete  a
     5  course of instruction on how to make their residence more resilient to a
     6  natural  disaster,  reduce the potential loss of life or property damage
     7  that could result from a natural disaster,  reduce  the  risk  of  fire,
     8  theft,  burglary,  personal  injury  or property damage, and raise their
     9  awareness of natural disaster preparedness by offering property/casualty
    10  insurance premium reductions.
    11    § 2. The section heading of section 2346  of  the  insurance  law,  as
    12  amended  by  chapter  637  of  the  laws  of  1993, is amended and a new
    13  subsection 5 is added to read as follows:
    14    Reduction in rates of fire insurance  [or],  homeowners  insurance  or
    15  property/casualty premiums for residential property.
    16    5. (a) Definitions. For the purposes of this subsection, the following
    17  terms shall have the following meanings:
    18    (1)  "Completion certificate" means a document which cannot be altered
    19  and which is provided to a person who successfully completes a homeowner
    20  natural disaster preparedness, home safety and loss prevention course.
    21    (2) "Natural disaster" means the  occurrence  or  imminent  threat  of
    22  widespread  catastrophic  or  severe  damage, injury, or loss of life or
    23  property resulting from any natural cause including, but not limited to,
    24  fire, flood, earthquake,  hurricane,  tornado,  high  water,  landslide,
    25  mudslide,  wind,  storm,  wave  action, ice storm, epidemic, air contam-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03953-03-6