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Bill > A01176
NY A01176
NY A01176Enacts the "construction insurance transparency act" to require insurers providing coverage for liability under the scaffold law to report, on an annual basis, to the superintendent of financial services relating to its finances and claims paid thereunder.
summary
Introduced
01/07/2021
01/07/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the insurance law, in relation to enacting the "construction insurance transparency act of 2021" requiring all insurers which issue policies of liability insurance insuring against claims made in reliance upon the duty imposed by the "scaffold law" to file annual financial statements and detailed claim data with the superintendent of financial services
AI Summary
This bill enacts the "Construction Insurance Transparency Act of 2021" to require insurers providing liability coverage under the "scaffold law" (Section 240 of the Labor Law) to annually report detailed financial and claims data to the Superintendent of Financial Services. The bill mandates that insurers disclose information on premiums, losses, expenses, and other relevant data related to this coverage, and that the Superintendent make this information publicly available. The goal is to increase transparency and accountability around the costs and claims associated with the scaffold law, and to encourage the use of risk management programs to promote workplace safety.
Committee Categories
Business and Industry
Sponsors (27)
Harry Bronson (D)*,
Karl Brabenec (R),
Kevin Byrne (R),
William Colton (D),
Catalina Cruz (D),
Steven Cymbrowitz (D),
Carmen De La Rosa (D),
Jeffrey Dinowitz (D),
Steven Englebright (D),
Jodi Giglio (R),
Richard Gottfried (D),
Judy Griffin (D),
Jonathan Jacobson (D),
Bill Magnarelli (D),
Karen McMahon (D),
Steve Otis (D),
N. Nick Perry (D),
Robert Rodriguez (D),
Linda Rosenthal (D),
Colin Schmitt (R),
Rebecca Seawright (D),
Jo Anne Simon (D),
Phil Steck (D),
Al Stirpe (D),
Yudelka Tapia (D),
Monica Wallace (D),
David Weprin (D),
Last Action
referred to insurance (on 01/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/A1176 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A01176&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A01176 |
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