New York A07102 amends the insurance law to hold insurers liable for unjustified refusal or delay in paying policyholders.

New York A07102 amends the insurance law by adding a new section 2601-a, which establishes that an insurer doing business in the state is liable to a policyholder for unjustified refusal or delay in payment. An insurer's refusal or delay is not substantially justified if it involves intentional negligence, failure to act in good faith, failure to provide written denial of claim, failure to make a final determination within six months, or failure to promptly proceed with the appraisal process.

New York A07102 amends the insurance law to hold insurers liable for unjustified refusal or delay in paying policyholders.

New York A07102 amends the insurance law by adding a new section 2601-a, which establishes that an insurer doing business in the state is liable to a policyholder for unjustified refusal or delay in payment. An insurer's refusal or delay is not substantially justified if it involves intentional negligence, failure to act in good faith, failure to provide written denial of claim, failure to make a final determination within six months, or failure to promptly proceed with the appraisal process.