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S05359 Summary:

BILL NOS05359
 
SAME ASNo Same As
 
SPONSORCOMRIE
 
COSPNSR
 
MLTSPNSR
 
Amd §3420, Ins L
 
Relates to notice of disclaimer of liability for certain revived causes of action; provides such notice shall occur within 120 days after the insurer has received actual notice of such revived claim or cause of action.
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S05359 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5359
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                    February 20, 2025
                                       ___________
 
        Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Insurance
 
        AN ACT to amend the insurance law, in relation to notice  of  disclaimer
          of liability for certain revived causes of action
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph 2 of subsection (d) of section 3420 of the insur-
     2  ance law, as amended by chapter 388 of the laws of 2008, is  amended  to
     3  read as follows:
     4    (2)  If under a liability policy issued or delivered in this state, an
     5  insurer shall disclaim liability or deny coverage for  death  or  bodily
     6  injury  arising  out  of  a  motor vehicle accident or any other type of
     7  accident occurring within this state, it shall give  written  notice  as
     8  soon as is reasonably possible of such disclaimer of liability or denial
     9  of coverage to the insured and the injured person or any other claimant.
    10  Provided,  however,  that  with  regard  to  any civil claim or cause of
    11  action revived pursuant to section two hundred fourteen-g of  the  civil
    12  practice  law  and  rules,  an  insurer  shall  give written notice of a
    13  disclaimer of liability or denial of insurance coverage for such revived
    14  claim or cause of action to the insured within one hundred  twenty  days
    15  after the insurer has received actual notice of such revived civil claim
    16  or cause of action.
    17    §  2.  This  act  shall take effect immediately and shall apply to all
    18  policies entered into on or before such date.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09484-01-5
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