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NY S04756

Bill

Official Source

Status

Introduced

4/22/2013

Primary Sponsor

John DeFrancisco

Click for details

Origin

Senate

2013-2014 General Assembly

AI Summary

  • Amends Insurance Law Section 3408(c) to clarify the scope of court-ordered appraisals in fire insurance disputes
  • Expands appraisals to determine actual cash value, replacement cost, extent of loss or damage, and amount of loss or damage as specified in the policy
  • Specifies that appraisals shall proceed according to the terms of the applicable appraisal clause and are not arbitrations
  • Prohibits appraisals from determining whether the insurance policy actually provides coverage for any portion of the claimed loss or damage
  • Takes effect immediately upon enactment

Legislative Description

Relates to court ordered appraisals under fire insurance policies.

Last Action

SUBSTITUTED BY A9346A

6/17/2014

Committee Referrals

Rules6/17/2014
Insurance4/22/2013

Full Bill Text

No bill text available