Bill > A01067

This bill amends the New York insurance law to prohibit insurers from excluding coverage for losses or damages caused by exposure to lead-based paint in rental properties. Specifically, the bill requires that no insurance company licensed or permitted by the state superintendent can, after a 26-month transition period, deny liability coverage for injuries or damages resulting from lead-based paint exposure. The legislation effectively prevents insurers from creating new exclusions for lead-based paint-related claims and mandates the termination of any existing such exclusions within 26 months of the law's effective date. The bill aims to protect rental property owners by ensuring they can obtain insurance coverage for potential lead-based paint-related liability, which is particularly important given the historical use of lead-based paint in residential buildings and the known health risks, especially to children, associated with lead exposure. The law will take effect immediately upon passage.

Business and Industry, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A1067