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Friday, October 18, 2013

NY Bill Would Outlaw Anti-Concurrent Causation Provisions for Flood Damage

The New York Assembly has passed new legislation, which is now heading to the State Senate, that could mandate that insurers in the state cover flood damage caused by a storm.

New York Assembly bill A 7455A: "Provides that when a flood event not covered under a policy or specifically excluded is a contributing factor in or occurs simultaneously as a covered event or peril, the insurer shall not deny or exclude coverage for the loss or damage caused by the covered event or peril."

Learn more about New York's A7455A.