New York A 8536: Improves transparency in the insurance claims process

Bill Text

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A08536 Summary:

BILL NOA08536 

&nbsp

SAME ASSAME AS S08262

&nbsp

SPONSORWeprin

&nbsp

COSPNSRKay, Wieder, Cook, Anderson, Tapia, Benedetto, Zaccaro, Dinowitz, Sayegh, Septimo

&nbsp

MLTSPNSR

&nbsp

Add §§3463, 3464, 3465 & 2108-a, amd §§2107 & 2108, Ins L

&nbsp

Improves transparency in the insurance claims process; regulates insurance adjusting professionals; institutes licensing standards for insurance professionals; ensures timely responses to insurance claims; enhances policyholder protections.

Go to top A08536 Actions:

BILL NOA08536 

&nbsp

05/20/2025referred to insurance

01/07/2026referred to insurance

Go to topA08536 Committee&nbspVotes:

Go to topA08536 Floor&nbspVotes:

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

Go to topA08536 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8536

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 20, 2025
 ___________

 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
 on Insurance

 AN ACT to amend the insurance law, in relation to improving transparency
 in the insurance claims process, regulating insurance adjusting
 professionals, instituting licensing standards for insurance profes-
 sionals, ensuring timely responses to insurance claims, and enhancing
 policyholder protections

 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. Period of restoration. (a) For the purposes of this section,
 4 the term "period of restoration" shall mean:
 5 (1) the period beginning on the date of loss;
 6 (2) the period which includes any actual time necessary to inspect,
 7 evaluate and assess the damages, obtain permits, receive funds and
 8 repair or replace damaged property in compliance with local building
 9 codes and industry standards;
 10 (3) the period which includes any delays caused by the insurer,
 11 including failure to complete investigations or unreasonable delays in
 12 claim handling; and
 13 (4) the period ending no earlier than upon issuance of payment of the
 14 actual cash value and replacement cost value of the property including,
 15 where applicable, the issuance of payment from the appraisal award or
 16 the mortgage holder.
 17 (b) An insurer that issues or delivers in this state a policy of
 18 insurance covering loss of or damage to real property shall provide any
 19 services specified in such policy, including but not limited to coverage
 20 for additional living expenses, loss of use, fair rental value or busi-
 21 ness interruption, for the entire period of restoration.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11947-01-5

 A. 8536 2

 1 (c) A violation of this section shall be subject to penalties
 2 described in section one hundred nine of this chapter, civil action by
 3 the policyholder for any damages sustained due to the violation of this
 4 section, and if it is found, after notice and an opportunity to be
 5 heard, that an insurer has violated this section, the superintendent may
 6 revoke an existing license to do business in this state and may refuse
 7 to issue or renew a license to do business in the state.
 8 § 2. The insurance law is amended by adding a new section 3464 to read
 9 as follows:
 10 § 3464. Real property claim processing requirements. (a) Notwithstand-
 11 ing any other provision of law to the contrary, an insurer that issues
 12 or delivers in this state a policy of insurance covering loss of or
 13 damage to real property shall:
 14 (1) upon the submission of a claim:
 15 (A) acknowledge receipt of such claim within five business days.
 16 (B) provide an electronic copy of the policyholder's entire insurance
 17 policy, including, but not limited to, all forms and endorsements and a
 18 letter, written clearly and in plain language, outlining policy bene-
 19 fits, coverages, time limits, exclusions regarding structures and condi-
 20 tions and any other provisions of the policy within thirty days of such
 21 claim being submitted.
 22 (2) within sixty days of the submission of a claim, issue an estimated
 23 insurance payout