Bill > S07827

This bill establishes a program for residential home safety and loss prevention courses that will enable homeowners to receive insurance premium discounts. Specifically, the bill directs the state department of financial services to create a certification process for home safety courses that teach homeowners how to prevent or minimize personal injuries and property losses from events like fires, thefts, burglaries, accidents, and weather-related disasters. Insurers will be required to provide an actuarially appropriate (statistically calculated) reduction in fire and homeowners insurance premiums for individuals who successfully complete these certified courses, with the discount lasting for three years. The bill outlines detailed requirements for course sponsors, including curriculum standards, instructor training, and the development of tamper-proof completion certificates. The department is authorized to suspend course sponsors for misrepresentation and can adjust premium discounts if they are not accurately reflective of potential loss reductions. The program will be evaluated through a mandatory report to be issued by the superintendent of financial services before the act's expiration, and the entire program is set to sunset after five years, allowing for a comprehensive review of its effectiveness in reducing insurance claims.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S7827