BILL NUMBER: S7391
SPONSOR: WALCZYK
 
TITLE OF BILL:
An act to amend the insurance law, in relation to flood insurance notice
in communities bordering Lake Ontario
 
PURPOSE:
This bill would require the department of financial services to publish
information about flood insurance and how it relates to standard home-
owners insurance policies in New York and necessary contact information
such as their disaster hotline.
 
SUMMARY OF PROVISIONS:
Section 1 of the bill would amend the insurance law by adding a new
subdivision 3 to section 3444. Subdivision three of section 3444 would
require the department of financial services to publish an annual notice
in the newspapers that serve the communities surrounding Lake Ontario.
The notice would contain the department's natural disaster contact
information and a statement about flood insurance and how it relates to
standard homeowners insurance policies in New York.
Section 2 of the bill would provide for an immediate effective date.
 
JUSTIFICATION:
Lake Ontario water levels are rising to the highest levels in nearly 20
years and as a result, the communities along the southern and eastern
shore are bracing for flooding. On May 2, 2017, Governor Cuomo official-
ly declared a state of emergency along Lake Ontario's shoreline and
announced he is forming a special response team to work with county and
local officials on their response to the flooding. In the event that a
resident falls victim to flood damage because of the heightened water
levels in Lake Ontario, this will would increase the chance of resi-
dent's having the appropriate contact information. Furthermore, the bill
would also inform residents about the lack of coverage for flood damage
in standard homeowner's insurance policies in New York and how insurance
for flood damage is generally available under a separate policy issued
through the National Flood Insurance Program INFIP).
 
LEGISLATIVE HISTORY:
2017-2018: S.6410
2019-2020: S.8810
2021-2022: S1872/A6367
 
FISCAL IMPLICATIONS:
Minimal.
 
EFFECTIVE DATE:
Immediately.

Statutes affected:
S7391: 3444 insurance law