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NY A10343
Bill
Status
11/22/2024
Primary Sponsor
David Weprin
Click for details
AI Summary
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Amends insurance law to prohibit anti-concurrent causation clauses for water backup or discharge coverage in residential and personal property insurance policies.
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Requires policies covering water damage from sewers, drains, sumps, or sump pumps to maintain that coverage even if an excluded peril contributed to or caused the loss in any sequence.
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Applies to policies covering residential real property with no more than four dwelling units (excluding hotels and motels) and personal property owned by natural persons but not used in business.
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Takes effect 90 days after enactment and applies to all policies issued or renewed on or after the effective date.
Legislative Description
Requires insurance policies which cover certain water or water-borne material damage also cover certain damage caused directly or indirectly by an excluded peril contributing concurrently or in any sequence.
Last Action
tabled
11/22/2024