New York Senate Bill S08889 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 8889  IN SENATE March 25, 2024 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to loss prevention programs The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (f) of section 2324 of the insurance law is 2 amended to read as follows: 3 (f) This section shall not prohibit any insurer from providing loss 4 mitigation or loss control programs at no or reduced cost to policyhold- 5 ers, pursuant to regulations promulgated by the superintendent. 6 (g) Any person or corporation violating the provisions of this section 7 shall, in addition to all other penalties provided by law, pay to the 8 people of this state as a penalty the sum of five hundred dollars for 9 each such violation. 10 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14951-01-4