Prohibits insurers from requiring a property owner to disclose the presence of tenants receiving rental assistance; prohibits coverage refusal due to the presence of tenants receiving rental assistance.
STATE OF NEW YORK
________________________________________________________________________
7923
2023-2024 Regular Sessions
IN ASSEMBLY
August 4, 2023
___________
Introduced by M. of A. L. ROSENTHAL -- read once and referred to the
Committee on Insurance
AN ACT to amend the insurance law, in relation to prohibiting insurers
from requiring a property owner to disclose the presence of tenants
receiving rental assistance and prohibiting coverage refusal due to
the presence of tenants receiving rental assistance
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 3462
2 to read as follows:
3 § 3462. Rental assistance disclosure. No insurer shall, on an appli-
4 cation for a policy of insurance on property, require a property owner
5 to disclose whether such property owner rents any portion of the proper-
6 ty to a tenant who receives any rental assistance provided by a city,
7 state, or federal agency, housing authority, or other entity wherein the
8 tenant's portion of the rent is limited to a percentage of the tenant's
9 income.
10 § 2. The insurance law is amended by adding a new section 3463 to read
11 as follows:
12 § 3463. Tenants receiving rental assistance; coverage refusal. (a)
13 For purposes of this section, "insured" means a current policyholder or
14 a person or entity that is covered under a property insurance policy.
15 (b) An insurer that issues or delivers a policy in this state on real
16 property and the buildings and improvements thereon shall not cancel,
17 refuse to issue, refuse to renew, or increase the premium of a policy or
18 exclude, limit, restrict, or reduce coverage under such policy solely on
19 the basis that any tenants of such property receive rental assistance
20 from a city, state, or federal agency, housing authority, or other enti-
21 ty where the tenant's portion of the rent is limited to a percentage of
22 the tenant's income.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11964-01-3
A. 7923 2
1 (c) Nothing in this section shall prohibit an insurer from canceling,
2 refusing to renew, increasing the premium of an insurance policy or
3 excluding, limiting, restricting, or reducing coverage under such policy
4 due to other factors that are permitted by any other section of this
5 chapter.
6 § 3. This act shall take effect immediately.
