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NY S03079

NY S03079
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.


summary

Introduced
01/27/2021
In Committee
01/05/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

2021-2022 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 licensed to provide liability coverage to rental property owners from excluding coverage for losses or damages caused by exposure to lead-based paint. It requires the Department of Insurance to terminate any previously approved exclusions related to lead-based paint exposure within 26 months of the bill's effective date. The bill aims to ensure that rental property owners have insurance coverage for issues related to lead-based paint, which can pose significant health risks, particularly to children.

Committee Categories

Business and Industry

Sponsors (25)

Last Action

PRINT NUMBER 3079A (on 02/10/2022)

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