BILL NUMBER: S7709
SPONSOR: SEPULVEDA
 
TITLE OF BILL:
An act to amend the insurance law, in relation to alternative forms of
identification for renters insurance
 
PURPOSE:
Establishes alternative forms of identification that can be used for the
purpose of purchasing renters' insurance to help all those impacted by a
natural or man-made disaster and reduce the strain on local and State
governments when addressing the cost of recovery for damage created by
such disasters.
 
SUMMARY OF PROVISIONS:
Section 1: The insurance law is amended by adding a new section 3421
which will require every insurer issuing a policy or contract for
renters' insurance to accept, in lieu of a social security number, a
municipal identification card or other state or local government-issued
identification card. The insurer may also require as proof of identity a
notarized copy of the rental lease signed by the property owner, the
property management firm and the insured.
Section 2: This act shall take effect immediately.
 
JUSTIFICATION:
The massive flooding that impacted New York City from the remnants of
Hurricane Ida destroyed lives and property. The worst impacted communi-
ties also happen to be the home of thousands of non-citizen residents
who are unable to purchase renters' insurance due to the requirement
that they have a social security number. Hundreds of New York City resi-
dents were temporarily and permanently displaced by this natural disas-
ter and lost all their possessions as the massive flooding destroyed all
they had. Their inability to access renters' insurance left them without
any protection and financial safeguards to mitigate the damage caused by
the disaster.
This legislation attempts to resolve this problem by allowing this group
of New Yorkers to access the products offered by the property and casu-
alty insurance market so that they can be better prepared to address a
disaster impacting their place of residence.
The extreme weather impacting New York over the past decade is only
becoming worse. To help offset the impact of recovery on local govern-
ments, it should be the public policy position of our State to improve
access to insurance products that can help individuals and families
recover from future natural disasters without having to fully rely on
the limited resources of the localities impacted. Allowing all willing
renters to access the property and casualty insurance market is a wise
and needed policy that will strengthen our State's efforts to address
mass disasters.
 
LEGISLATIVE HISTORY:
A.125B of 2023-24; Passed Assembly 2024; Delivered to Senate and
Referred to Insurance.
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately.