Bill > A03770

This bill amends the New York insurance law to explicitly allow insurers to provide loss mitigation or loss control programs to policyholders at no cost or a reduced cost, without such programs being considered a violation of existing rebating or discrimination provisions. Specifically, the bill adds a new subsection to section 2324 of the insurance law that clarifies insurers can offer these programs, subject to regulations set by the state superintendent of insurance. Loss mitigation and loss control programs are typically services or resources that help policyholders reduce the risk of potential insurance claims, such as home safety inspections, risk assessment tools, or preventive maintenance guidance. By creating this explicit allowance, the bill provides legal clarity for insurers who want to offer these proactive risk reduction services to their customers, potentially helping to prevent insurance losses and benefiting both the insurers and policyholders. The act is designed to take effect immediately upon passage.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A3770