Bill Text: NY A10343 | 2023-2024 | General Assembly | Introduced

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Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2024-05-29 - REFERRED TO INSURANCE [A10343 Detail]

Download: New_York-2023-A10343-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10343

                   IN ASSEMBLY

                                      May 17, 2024
                                       ___________

        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weprin) --
          (at request of the Department of Financial Services) -- read once  and
          referred to the Committee on Insurance

        AN ACT to amend the insurance law, in relation to anti-concurrent causa-
          tion clauses

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The insurance law is amended by adding a new  section  3416
     2  to read as follows:
     3    § 3416. Anti-concurrent causation clauses; water back up or discharge.
     4  (a)  When an insurance policy provides coverage for loss of or damage to
     5  property resulting from water or  water-borne  material  that  backs  up
     6  through  sewers  or  drains,  or overflows or is discharged from a sump,
     7  sump pump, or related equipment, the policy shall not  exclude  coverage
     8  for  any  loss  of or damage to property resulting from the foregoing on
     9  the ground that the loss or damage also may have been caused directly or
    10  indirectly by an excluded peril  contributing  concurrently  or  in  any
    11  sequence to cause the loss.
    12    (b)  For  the purpose of this section, "insurance policy" shall mean a
    13  policy issued or issued for delivery in this state that provides  cover-
    14  age  for:  (1) loss of or damage to real property used predominately for
    15  residential purposes and that consists of not more  than  four  dwelling
    16  units,  other  than  hotels  and  motels;  or  (2)  loss of or damage to
    17  personal property in which natural persons have an  insurable  interest,
    18  except personal property used in the conduct of business.
    19    §  2.  This  act shall take effect on the ninetieth day after it shall
    20  have become a law and shall apply to all policies issued or  renewed  on
    21  or after such date.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14166-01-4