NY A08536

Defines "period of restoration" for real property insurance claims to include time for inspections, permits, repairs, and any insurer-caused delays, requiring coverage for additional living expenses and business interruption throughout the entire restoration period

Requires insurers to acknowledge claims within 5 business days, provide complete policy documents within 30 days, and issue estimated payouts with itemized damage assessments within 60 days of claim submission

Establishes appraisal requirements mandating that both insurers and policyholders select competent, disinterested appraisers who were not involved in prior claims on the same property, with specific timelines of 15 days to select appraisers and 30 days for umpire decisions

Creates licensing requirements for insurance building consultants matching public and independent adjuster standards, requires photo identification cards for all adjusters, and mandates continuing education of 15 credit hours per biennial licensing period

Requires insurers to only use licensed professional engineers for property damage assessments, maintain complete unaltered records of all claim documentation, and establishes a department tracking system for claim denials with potential penalties including license revocation