NY A10690

Requires insurers offering homeowners or commercial property insurance to provide written disclosure to insureds describing coverage details, exclusions, deductibles, claims processes, rights when claims are denied, and contact information.

Mandates insurers disclose to potential insureds whether property is in a flood zone, the specific flood zone designation, and associated risk level prior to policy sale or renewal, with acknowledgment required from the insured.

Requires insurers to notify potential insureds of available additional coverage options for weather-related and natural disaster damage through the New York Property Insurance Underwriting Association, Coastal Market Assistance Program, National Flood Insurance Program, and other authorized options.

Directs the superintendent to issue a consumer guide within six months on insuring against catastrophic losses, including information on coverage types, exclusions, preparation steps, claim processing procedures, and available government programs.

Adds a new violation to the insurance law making it unlawful for insurers to knowingly misrepresent policy provisions or fail to comply with required timeframes for claims investigation, processing, settlement, and payment.