New York Assembly Bill A01687 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 1687 2023-2024 Regular Sessions  IN ASSEMBLY January 17, 2023 ___________ Introduced by M. of A. RIVERA, CLARK, CRUZ, DE LOS SANTOS, DINOWITZ, FAHY, HEVESI, LAVINE, MAMDANI, McMAHON, MEEKS, PEOPLES-STOKES, L. ROSENTHAL, SAYEGH, SEAWRIGHT, TAYLOR, ZINERMAN, JACKSON, SIMON -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to prohibiting the exclu- sion of coverage for losses or damages caused by exposure to lead- based paint The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The insurance law is amended by adding a new section 3462 2 to read as follows: 3 § 3462. Exclusion for lead hazards prohibited. No insurer licensed or 4 permitted by the superintendent to provide liability coverage to rental 5 property owners shall exclude, after twenty-six months following the 6 effective date of this section, coverage for losses or damages caused by 7 exposure to lead-based paint. The department shall not permit, authorize 8 or approve any exclusion for injury or damage resulting from exposure to 9 lead-based paint, except as specifically provided for in law, that was 10 not in effect as of the effective date of this section, and all previ- 11 ously approved exclusions shall terminate on or before twenty-six months 12 following the effective date of this section. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01667-01-3