Enhances transparency in insurance claims, regulates professionals, sets licensing standards, ensures timely responses, and strengthens policyholder.

New York A08536 amends the insurance law to improve transparency in the insurance claims process. It mandates insurers to provide timely and detailed responses to claims, including estimates of damages and reasons for denials. The bill regulates insurance adjusting professionals by requiring them to undergo mandatory training and maintain records of all claim-related activities. It institutes licensing standards for insurance professionals, including public adjusters and independent adjusters, requiring them to complete continuing education and adhere to a code of ethics.

Enhances transparency in insurance claims, regulates professionals, sets licensing standards, ensures timely responses, and strengthens policyholder.

New York A08536 amends the insurance law to improve transparency in the insurance claims process. It mandates insurers to provide timely and detailed responses to claims, including estimates of damages and reasons for denials. The bill regulates insurance adjusting professionals by requiring them to undergo mandatory training and maintain records of all claim-related activities. It institutes licensing standards for insurance professionals, including public adjusters and independent adjusters, requiring them to complete continuing education and adhere to a code of ethics.