STATE OF NEW YORK
________________________________________________________________________
7452--A
Cal. No. 439
2013-2014 Regular Sessions
IN ASSEMBLY
May 17, 2013
___________
Introduced by M. of A. MOYA -- read once and referred to the Committee
on Insurance -- reported from committee, advanced to a third reading,
amended and ordered reprinted, retaining its place on the order of
third reading
AN ACT to amend the insurance law, in relation to business interruption
insurance
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The section heading of section 3426 of the insurance law,
2 as amended by chapter 235 of the laws of 1989, is amended to read as
3 follows:
4 Commercial lines insurance; cancellation and renewal provisions; busi-
5 ness interruption insurance.
6 § 2. Subsection (a) of section 3426 of the insurance law is amended by
7 adding a new paragraph 12 to read as follows:
8 (12) "Business interruption insurance" shall have the same meaning as
9 paragraph four of subsection (d) of section five thousand four hundred
10 one of this chapter.
11 § 3. Section 3426 of the insurance law is amended by adding a new
12 subsection (p) to read as follows:
13 (p) No insurer writing a policy issued or delivered in this state that
14 provides for business interruption insurance shall deny or exclude
15 coverage for a claim for loss or damage that is caused by a peril
16 insured against by the policy solely because the insured peril:
17 (1) Resulted from a peril not insured against or expressly excluded
18 under the policy; or
19 (2) Resulted from an action intended to mitigate loss from a peril not
20 insured against or expressly excluded under the policy; or
21 (3) Occurred within a reasonable amount of time either before or after
22 a peril not insured against or expressly excluded under the policy.
23 § 4. This act shall take effect immediately and shall apply to all
24 policies issued or renewed after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11123-02-3
