Loading chat...

NY A01193

Bill

Official Source

Status

Introduced

1/13/2023

Primary Sponsor

Jennifer Lunsford

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Amends the definition of "service contract" in Insurance Law Section 7902(k) to explicitly include coverage for power surges and accidental damages from handling
  • Removes outdated language that separately listed power surges and accidental damage coverage, consolidating it into the main service contract definition
  • Maintains existing provisions allowing service contracts to cover repair, replacement or maintenance of property, towing, rental services, and residential appliances
  • Preserves limits on indemnity payments per incident, capping them at the purchase price of the serviced property
  • Takes effect immediately upon enactment

Legislative Description

Relates to service contracts for accidental damages from handling and power surges.

Last Action

referred to insurance

1/3/2024

Committee Referrals

Insurance1/13/2023

Full Bill Text

No bill text available