Bill > A02236

This bill amends the Insurance Law to establish standards for the prompt investigation and settlement of claims arising from states of emergency and disasters. Key provisions include: (1) requiring insurers to acknowledge receipt of claims, allow immediate repairs to protect health and safety, and provide claimants with a list of required documentation; (2) requiring insurers to advise claimants within 15 business days whether a claim is accepted or rejected, with a one-time 15-day extension allowed; (3) requiring insurers to provide written settlement offers and notification of appeal rights if a claim is rejected; and (4) requiring payment of accepted claims within 3 business days of settlement. The Superintendent of Insurance is also authorized to promulgate regulations to implement these new requirements.

Business and Industry, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2021/A2236