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NY A03802
Bill
Status
1/27/2015
Primary Sponsor
Phillip Goldfeder
Click for details
AI Summary
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Prohibits insurers from denying coverage for losses caused by covered perils when an uncovered or excluded flood event is a contributing factor or occurs simultaneously with the covered event
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Clarifies that insurers remain not obligated to pay for any loss or damage caused solely by the flood event itself if it is not covered or is excluded
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Requires insurers that include anti-concurrent causation clauses to clearly state in the policy which excluded or uncovered perils trigger the clause and whether causation must be proximate or remote
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Mandates insurers disclose anti-concurrent causation provisions to policyholders before sale or purchase of the policy
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Applies to all policies issued or renewed after the bill takes effect immediately upon enactment
Legislative Description
Provides that when a flood event not covered under a policy or specifically excluded is a contributing factor in or occurs simultaneously as a covered event or peril, the insurer shall not deny or exclude coverage for the loss or damage caused by the covered event or peril.
Last Action
enacting clause stricken
11/10/2016