Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint; provides that no insurer licensed or permitted by the superintendent to provide liability coverage to rental property owners shall exclude coverage for losses or damages caused by exposure to lead-based paint.
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
