After Sandy, N.Y. Assembly Advances ‘Homeowners Bill of Rights’ Legislation

January 17, 2013

  • January 17, 2013 at 1:38 pm
    jtownagent says:
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    What a great idea. Isn’t it amazing that he did not have this great idea after Andrew, Bob, Gloria, Hugo, Ike, Katrina etc. It is almost like a hurricane never happened before Sandy.

    • January 17, 2013 at 1:42 pm
      WyomingAgent says:
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      Amazing what happens when a hurricane hits NY. Of course, everything that is in the “Bill of Rights” already exists. All people have to do is read their d**n policy.

  • January 17, 2013 at 1:53 pm
    Al Berryman says:
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    We should amend this bill to require all government agencies to comply with the same time limits. For example, they must approve building permits within 15 days.

  • January 17, 2013 at 1:56 pm
    NYAgent says:
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    Hidden due to low comment rating. Click here to see.

    • January 18, 2013 at 8:16 am
      Ohio Agent says:
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      Glad to hear New Yorkers are so special, but let’s face it my friend, you chose to live on an island and the waters around you flooded the island. SURPRISE! Now taxpayers everywhere are supposed to rise up and subsidize your choice to live on an island? Or the people who chose to live 12′ below sea level in new Orleans? Or anyone who choses to live on the beach? Buy the coverage to insure yourself and the risks you assume. Don’t come crying to me. And another thing… if you really are an agent, do you really think it is reasonable for companies to assess and pay all disaster claims within 24 days? That is just stupidity.

    • January 18, 2013 at 9:26 am
      Brokie says:
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      Your scenario is a logistics problem. Yes it is tragic that businesses are still closed due to lack of power, etc. However, just like the residents and business owners of New Orleans and Galveston, surely those NY’ers must have known they were rolling the dice by residing, making a living, on oceanfront property. You would have to have lived under a rock not to have been aware of ‘if the big one ever hits Long Islant’. Having said that – this legislation is USELESS and is an example of pandering and grand-standing.

  • January 17, 2013 at 1:58 pm
    Brokie says:
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    Really? How about a bill that would mandate the Department of Financial Services (formerly DOI) to act promptly on requests for form and rate changes? NY Insurance Department is archaic in their response, or lack of, to insurers. Pennsylvania is ‘file and use’. NJ for the most part is ‘deemed approved’. NY is still in the dark ages regarding changes that are ADVANTAGEOUS to insureds.

    • January 22, 2013 at 9:10 am
      jw says:
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      Just because the insurer thinks the change is advantageous doesn’t mean it’s legal. Additionally, many insurers will try to slip something through with the “advantageous” change that takes away or restricts something else.

  • January 17, 2013 at 2:33 pm
    Original bob says:
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    I had to look up unscrupulous – “Without scruples of conscience, and disregards, or has contempt for, laws of right or justice with which they are well acquainted, and which should restrain their actions.” This is really bad – Sheldon should identify these unscrupulous companies and run them out of business with bad faith lawsuits or by prosecuting them for being amoral. Or perhaps he should just libel all insurance companies and then make them all add a couple of pages, which no one will read until after a loss, to their already voluminous policies.

  • January 17, 2013 at 9:05 pm
    tw says:
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    I’m for an insurance and agency company bill of rights with new york that doesn’t reject forms based on inc. vs inc and has one group want the form of business in the business name and another that doesn’t, leading to licensing and what not delays.

    • January 18, 2013 at 9:22 am
      Brokie says:
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      Will you marry me?

    • January 22, 2013 at 9:13 am
      jw says:
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      I agree that those are really bad reasons to hold or disapprove a filing. I can’t speak to how NY does their job, but even I wouldn’t hold up a filing for that.

  • January 18, 2013 at 8:32 am
    John says:
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    Sandy seems to have been a springboard for Insurance Company bashing! Why! Are there really so many “unscrupulous actions by insurance companies” that new laws are needed? Or…is it more realistically… unreasonable expectations as to what an insurance contract provides?

    This industry employs a great many honorable professionals who work very hard to help individual policyholders. It provides tremendous economic benefit by employing so many and infusing so much capital into the economy after a disaster.

    The industry is already over regulated. If the government would turn from its “do as I say not as I do” philosophy and start acting in the manner they expect from others we would all benefit.

  • January 22, 2013 at 9:21 am
    jw says:
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    The turn around time presented by these lawmakers is unreasonable. The companies would have to have people working 24/7 since so many policy holders will be filing claims.

    On the other bill, if policy holders actually read their policy, they might understand it. A summary with the important points (YOUR WIND/HAIL DEDUCTIBLE IS… or YOU HAVE NO COVERAGE FOR…) might help. I don’t know. The policy holders who have no coverage or limited coverage will probably read their next policy. Those that weren’t affected probably won’t read their policy before a claim needs to be filed. That is, if they remember where they put their policy.

    Uh, oh, my cynical side is showing.



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