Bill > S00133

This bill amends the New York insurance law to prohibit insurance companies from excluding coverage for losses or damages caused by exposure to lead-based paint in rental properties. Specifically, the bill requires that any insurer licensed by the superintendent to provide liability coverage to rental property owners must include coverage for lead-based paint-related injuries or damages. The bill provides a 26-month transition period after its effective date, during which time existing exclusions must be phased out and no new exclusions can be approved by the department. The goal appears to be protecting rental property owners and potentially tenants by ensuring that insurance policies cannot avoid paying claims related to lead-based paint exposure, which is known to cause serious health risks, particularly to children. By preventing insurers from writing off these potential liability claims, the bill aims to encourage more comprehensive insurance coverage and potentially motivate property owners to address lead-based paint hazards more proactively.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S133