A08004 Summary:

BILL NOA08004
 
SAME ASSAME AS S06556
 
SPONSORWeinstein
 
COSPNSRTitus, Seawright, Zebrowski, Colton, Cymbrowitz, Jaffee, Titone, Hevesi, Hunter, Brindisi, D'Urso, Davila, Skoufis, Abinanti, Gottfried
 
MLTSPNSRBrabenec, Castorina, Raia
 
Amd 3420, Ins L
 
Provides that a liability insurer may be sued for and the plaintiff may recover compensatory damages in excess of the limits of the policy when the insurer failed to effectuate prompt and fair settlement of the claim and considered its interests to the detriment of the insured so as to cause the rendering of a judgment in excess of the policy limits.
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A08004 Actions:

BILL NOA08004
 
05/25/2017referred to insurance
06/20/2017reported referred to codes
06/20/2017reported referred to rules
06/20/2017reported
06/20/2017rules report cal.618
06/20/2017ordered to third reading rules cal.618
01/03/2018ordered to third reading cal.572
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A08004 Committee Votes:

INSURANCE Chair:Cahill DATE:06/20/2017AYE/NAY:17/7 Action: Favorable refer to committee Codes
CahillAyeBarclayNay
CookAyeButlerNay
PretlowAyeHawleyNay
RiveraAyeBlankenbushNay
Peoples-StokesAyeCurranNay
CymbrowitzAyeWalterNay
LavineAyeGarbarinoNay
MoyaAye
HevesiAye
SkoufisAye
SteckAye
CrespoAye
JoynerAye
DilanAye
HunterAye
SimotasExcused
WalkerAye
NiouAye

RULES Chair:Heastie DATE:06/20/2017AYE/NAY:31/0 Action: Favorable
HeastieAyeKolbAye
GottfriedAyeOaksAye
LentolAyeButlerAye
FarrellAyeCrouchAye
GanttAyeFinchAye
NolanAyeBarclayAye
WeinsteinAyeRaiaAye
HooperAyeHawleyAye
OrtizAye
PretlowAye
CookAye
GlickAye
MorelleAye
AubryAye
EnglebrightAye
DinowitzAye
ColtonAye
MagnarelliAye
PerryAye
GalefAye
PaulinAye
TitusAye
Peoples-StokesAye

CODES Chair:Lentol DATE:06/20/2017AYE/NAY:15/6 Action: Favorable refer to committee Rules
LentolAyeGrafNay
SchimmingerAbsentGiglioNay
WeinsteinAyeMcKevittNay
PretlowAyeMontesanoNay
CookAyeRaNay
CymbrowitzAyeMorinelloNay
TitusAye
O'DonnellAye
LavineAye
PerryAye
ZebrowskiAye
AbinantiAye
WeprinAye
MosleyAye
HevesiAye
FahyAye

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A08004 Floor Votes:

There are no votes for this bill in this legislative session.
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A08004 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8004
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 25, 2017
                                       ___________
 
        Introduced  by  M. of A. WEINSTEIN, TITUS, SEAWRIGHT, ZEBROWSKI, COLTON,
          CYMBROWITZ, JAFFEE -- read once  and  referred  to  the  Committee  on
          Insurance
 
        AN  ACT to amend the insurance law, in relation to maintaining an action
          against a liability insurer seeking compensatory damages in excess  of
          the  policy  limits  where such insurer failed to engage in prompt and
          fair settlement of the claim
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  3420 of the insurance law is amended by adding a
     2  new subsection (b-1) to read as follows:
     3    (b-1) An action may also be maintained by the  persons  identified  in
     4  paragraphs  one, two and three of subsection (b) of this section against
     5  the insurer to recover compensatory damages from  such  insurer  to  the
     6  full  extent  of  the  judgement against the insured, not limited to the
     7  policy limits and not subject to the limitations and conditions of para-
     8  graph two of subsection (a) of this section, where the insurer failed to
     9  effectuate a prompt and fair settlement of a claim or any portion there-
    10  of, and the insurer failed to reasonably accord at least equal  or  more
    11  favorable  consideration to its insured's interests as it did to its own
    12  interests, and thereby exposed the insured to a judgement in  excess  of
    13  the policy limits.
    14    § 2. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11796-01-7
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