Requires the removal from an insured's record of claims any claim made in good faith and paid for lost property which was not lost and the insured reimbursed the insurer for the claim after the lost property is found.
STATE OF NEW YORK
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5804
2019-2020 Regular Sessions
IN ASSEMBLY
February 19, 2019
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Introduced by M. of A. ENGLEBRIGHT, COLTON, GUNTHER, CAHILL, ZEBROWSKI,
WEPRIN -- Multi-Sponsored by -- M. of A. ABINANTI, RIVERA -- read once
and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to requiring insurers of
property to eliminate from the claims record of an insured, any claim
of loss made and paid in good faith, which is discovered to be false
and the proceeds of such claim are repaid to the insurer
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 3407-b
2 to read as follows:
3 § 3407-b. Property insurance; claim of loss. The good faith claim of
4 the loss of any property which a person has insured against loss or
5 damage under any contract of insurance, issued or delivered in this
6 state or covering property located in this state, shall be removed from
7 the record of claims made by the insured, for all purposes, when the
8 insured subsequently finds that such property was not lost and repays to
9 the insurer all money, if any, paid pursuant to such claim.
10 § 2. This act shall take effect immediately and shall apply to claims
11 made on or after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09851-01-9
