Bill Text: NY A05439 | 2023-2024 | General Assembly | Introduced

---

Bill Title: Relates to flood insurance notice in communities bordering Lake Ontario; requires the department of financial services to publish an annual notice with the department's contact information and a statement about flood insurance and how it relates to standard homeowners insurance policies in local newspapers that serve the communities bordering Lake Ontario.

Spectrum: Partisan Bill (Republican 12-0)

Status: (Engrossed) 2024-03-11 - REFERRED TO INSURANCE [A05439 Detail]

Download: New_York-2023-A05439-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                          5439

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     March 10, 2023
                                       ___________

        Introduced  by  M.  of  A. BARCLAY, HAWLEY, NORRIS, MORINELLO, LEMONDES,
          DeSTEFANO, J. M. GIGLIO, BLANKENBUSH, JENSEN, BRABENEC --  Multi-Spon-
          sored by -- M.  of A. K. BROWN, MANKTELOW -- read once and referred to
          the Committee on Insurance

        AN ACT to amend the insurance law, in relation to flood insurance notice
          in communities bordering Lake Ontario

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

     1    Section 1. Section 3444 of the insurance law is amended  by  adding  a
     2  new subsection 3 to read as follows:
     3    3. The department of financial services shall publish an annual notice
     4  that contains the department's contact information and a statement about
     5  flood  insurance  and  how  it  relates to standard homeowners insurance
     6  policies in New York state in local newspapers that serve  the  communi-
     7  ties  bordering  Lake  Ontario. Such notice may include: (a) the depart-
     8  ment's disaster hotline and other relevant contact  information;  (b)  a
     9  web link to the department's disaster and flood resource center on their
    10  website;  and  (c)  the  following  statement or a substantially similar
    11  statement: "While floods are the most common  natural  disaster  in  the
    12  United States, insurance coverage for losses from floods is not provided
    13  in  standard homeowners or tenants policies. Insurance for flood damages
    14  is generally available  under  a  separate  policy  issued  through  the
    15  National  Flood  Insurance  Program  (NFIP) and available to homeowners,
    16  renters and businesses. DFS can answer questions about  agents,  brokers
    17  and  adjustors, the claims process (including hurricane and wind deduct-
    18  ibles), policy cancellation, and non-renewal,  and  coverage  for  addi-
    19  tional  living  expenses  (which  you  may  be  entitled  to  if you are
    20  displaced after a disaster). If your business has  been  affected  by  a
    21  disaster,  we  can also answer questions about coverage, business inter-
    22  ruption insurance and off-premises service interruption coverage."
    23    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03848-01-3