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S08624 Summary:
| BILL NO | S08624 |
| SAME AS | SAME AS A11693 |
| SPONSOR | SEWARD |
| COSPNSR | LAVALLE, FLANAGAN, FUSCHILLO, HANNON, JOHNSON O, MARCELLINO, SKELOS, TRUNZO, FLANAGAN |
| MLTSPNSR | |
| Rpld S5411, amd Ins L, generally; amd SS13 & 12, Chap 42 of 1996 | |
| Extends certain provisions of law relating to the New York property insurance underwriting association and provisions of chapter 42 of the laws of 1996 relating to homeowners' insurance; extends certain stand-by powers of the New York property insurance underwriting association; makes permanent certain provisions relating to the setting of automobile and property/casualty insurance rates; provides for flexible rating for non-business automobile insurance policies authorizing up to 5% annual rate adjustments without approval of the superintendent of insurance; relates to members of the New York property insurance underwriters association who write insurance policies that include coverage for windstorm in coastal areas; provides for the writing of insurance policies providing broad form coverage; directs the New York property insurance underwriting association to create the coastal market assistance program; directs the superintendent of insurance to implement a program to encourage insurers to write residential property insurance; relates to the special advisory panel on homeowners' insurance/catastrophe coverage. | |