Requires homeowner's insurance policies, upon issuance or renewal, to include notice that such a claim may adversely affect future premiums, renewal, or may condition policy renewal upon change of limits or elimination of coverages.
STATE OF NEW YORK
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2572
2017-2018 Regular Sessions
IN ASSEMBLY
January 20, 2017
___________
Introduced by M. of A. PAULIN, BENEDETTO, COLTON, HOOPER -- Multi-Spon-
sored by -- M. of A. CAHILL, COOK, DINOWITZ, GUNTHER, HIKIND, PERRY,
RIVERA, WRIGHT -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to notice to insureds
upon filing of a claim under a homeowners' insurance policy
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 3421
2 to read as follows:
3 § 3421. Notice to insured; homeowners' insurance claims. Upon the
4 issuance or renewal of a homeowners' insurance policy, the insurer shall
5 include in the policy or in the policy renewal the following notice to
6 the insured stating, in plain, easy to read, bold faced type, the
7 following:
8 "IMPORTANT NOTICE TO INSURED
9 Each claim made against a homeowners' insurance policy may adversely
10 affect your premium or may condition your policy renewal upon change of
11 limits or elimination of coverages, or may affect the ability to renew
12 your insurance policy."
13 § 2. This act shall take effect on the ninetieth day after it shall
14 have become a law and shall apply to all policies issued or renewed on
15 and after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06297-01-7
