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NY A07786
Bill
Status
6/19/2018
Primary Sponsor
Sean Ryan
Click for details
AI Summary
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Prohibits insurers from excluding coverage for losses or damages caused by exposure to lead-based paint in liability policies for rental property owners.
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Requires the Department of Financial Services to disallow any new exclusions related to lead-based paint exposure that were not in effect on the bill's effective date.
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Mandates that all previously approved lead-based paint exclusions must terminate within 26 months of the bill's effective date.
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Takes effect immediately upon enactment.
Legislative Description
Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint; provides that no insurer licensed or permitted by the superintendent to provide liability coverage to rental property owners shall exclude coverage for losses or damages caused by exposure to lead-based paint.
Last Action
REFERRED TO RULES
6/19/2018