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A06004 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6004
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 4, 2021
                                       ___________
 
        Introduced by M. of A. PICHARDO -- read once and referred to the Commit-
          tee on Insurance
 
        AN  ACT  to  amend  the  insurance  law, in relation to commercial crime
          coverage exclusions
 
          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 3458
     2  to read as follows:
     3    § 3458. Commercial crime coverage exclusions. (a) Definitions. As used
     4  in this section:
     5    (1) "commercial crime coverage"  means  coverage  under  a  policy  of
     6  commercial  risk insurance that provides burglary and theft insurance or
     7  fidelity insurance; and
     8    (2) "commercial risk insurance" shall have the  same  meaning  as  set
     9  forth  in paragraph forty-seven of subsection (a) of section one hundred
    10  seven of this chapter.
    11    (b) No policy issued, renewed or delivered in this state that provides
    12  commercial crime coverage may exclude or  limit  coverage  for  loss  or
    13  damage caused by an employee if:
    14    (1)  the  employee  was  convicted of one or more criminal offenses in
    15  this state or any other jurisdiction prior  to  being  employed  by  the
    16  employer; and
    17    (2)  after  learning  about  an employee's past criminal conviction or
    18  convictions, the employer made a determination to  hire  or  retain  the
    19  employee pursuant to article twenty-three-A of the correction law.
    20    (c) A violation of this section shall be deemed to be an unfair method
    21  of competition or an unfair or deceptive act and practice in the conduct
    22  of  the business of insurance in this state, and shall be deemed to be a
    23  trade practice  constituting  a  determined  violation,  as  defined  in
    24  subsection (c) of section two thousand four hundred two of this chapter,
    25  in violation of section two thousand four hundred three of this chapter.
    26    § 2. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08328-01-1
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New York State Assembly

Speaker Carl E. Heastie

A06004 Text:
