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NY A00808
Bill
Status
1/9/2017
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 property damage claims from emergencies or catastrophes.
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Allows the superintendent of insurance to issue temporary permits (up to 120 days, renewable) to non-resident adjusters for handling widespread property losses, contingent on using region-appropriate cost data.
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Makes it an unfair insurance practice for insurers or adjusters to artificially deflate or otherwise lower cost data, or to use cost data inappropriate for the region where the loss occurred.
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Applies the unfair practice prohibition specifically to claims adjusted by persons issued temporary permits under the emergency adjuster provision.
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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
substituted by s2746
6/20/2018