New York S 10403: Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint

Bill Text

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S10403 Summary:

BILL NOS10403 

&nbsp

SAME ASSAME AS A01067

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §3463, Ins L

&nbsp

Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint; provides that no insurer licensed or permitted by the superintendent to provide liability coverage to rental property owners shall exclude coverage for losses or damages caused by exposure to lead-based paint.

Go to top S10403 Actions:

BILL NOS10403 

&nbsp

05/15/2026REFERRED TO INSURANCE

Go to topS10403 Committee&nbspVotes:

Go to topS10403 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS10403 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10403

 IN SENATE

 May 15, 2026
 ___________

 Introduced by Sen. BAILEY -- 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 prohibiting the exclu-
 sion of coverage for losses or damages caused by exposure to lead-
 based paint

 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 3463
 2 to read as follows:
 3 § 3463. Exclusion for lead hazards prohibited. No insurer licensed or
 4 permitted by the superintendent to provide liability coverage to rental
 5 property owners shall exclude, after twenty-six months following the
 6 effective date of this section, coverage for losses or damages caused by
 7 exposure to lead-based paint. The department shall not permit, authorize
 8 or approve any exclusion for injury or damage resulting from exposure to
 9 lead-based paint, except as specifically provided for in law, that was
 10 not in effect as of the effective date of this section, and all previ-
 11 ously approved exclusions shall terminate on or before twenty-six months
 12 following the effective date of this section.
 13 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00408-01-5

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