NY A07139

Creates a private right of action for policyholders and injured persons against insurers for unfair claim settlement practices, with damages recoverable in addition to amounts due under the policy.

Establishes 13 specific unfair practices including failing to provide accurate policy information, unreasonably delaying claim decisions beyond six months, refusing to settle within policy limits, and negotiating directly with represented policyholders without attorney consent.

Allows recovery of costs, disbursements, consequential damages, reasonable attorney fees, interest from date of loss, and punitive damages as determined by the finder of fact.

Requires a 30-day written demand for relief before filing suit; if insurer tenders settlement within 30 days that is rejected, recovery may be limited to tendered amount if reasonable, otherwise actual damages or 2-3 times actual damages for willful violations.

Prohibits insurers from refusing to issue or renew policies solely because a policyholder brought an action under this section, and permits trial by jury with no mandatory arbitration allowed for these claims.