NY A01062

Amends the Insurance Law definition of "service contract" to explicitly include coverage for power surges and accidental damages from handling as part of the core definition

Restructures existing language by moving power surge and accidental damage coverage from a secondary provision into the primary definition of what service contracts cover

Service contracts cover repair, replacement, or maintenance of property for defects in materials, workmanship, wear and tear, power surges, or accidental damage from handling

Takes effect immediately upon enactment