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NY A10197
Bill
Status
5/16/2016
Primary Sponsor
Nick Perry
Click for details
AI Summary
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Requires out-of-state insurance adjusters with temporary permits to use cost data appropriate for the specific region of New York where they are adjusting claims.
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Amends the temporary permit process for non-resident adjusters responding to widespread property losses from conflagrations or catastrophes to include certification that adjusters will use regionally appropriate cost data.
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Adds a new prohibited practice under insurance law making it unlawful for insurers or adjusters to artificially deflate or use inappropriate cost data when adjusting claims.
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Applies the cost data requirements to all claims adjusted by temporary permit holders, ensuring consistency with in-state adjuster practices.
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Takes effect immediately upon enactment.
Legislative Description
Relates to the use of local cost data when adjusting claims; requires an insurer and independent adjuster to adjust certain claims made under an insurance policy that provides coverage for loss of or damage to property using cost data appropriate for the region of this state where the loss or damage occurred.
Last Action
ordered to third reading rules cal.457
6/16/2016