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Bill > S05183
NY S05183
NY S05183Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint; provides that no insurer licensed or permitted by the superintendent to provide liability coverage to rental property owners shall exclude coverage for losses or damages caused by exposure to lead-based paint.
summary
Introduced
04/12/2019
04/12/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint; provides that no insurer licensed or permitted by the superintendent to provide liability coverage to rental property owners shall exclude coverage for losses or damages caused by exposure to lead-based paint.
AI Summary
This bill prohibits insurers from excluding coverage for losses or damages caused by exposure to lead-based paint in rental properties. The bill requires that no insurer licensed or permitted to provide liability coverage to rental property owners shall exclude such coverage, and it mandates that the Department of Insurance shall not approve any new exclusions for lead-based paint exposure, with previously approved exclusions terminating within 26 months of the bill's effective date.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
REFERRED TO INSURANCE (on 01/08/2020)
Official Document
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