New York S00166 provides policyholders a private right of action against insurers who refuse or delay payment of insurance claims.

New York S00166, known as the Fair Insurance Settlement Practice Act (FISPA), aims to address unfair claim settlement practices by insurers. It allows policyholders to sue insurers for damages and equitable relief if they refuse or delay payment of a settlement. The act defines unfair practices, including misrepresenting facts, delaying investigations, and failing to provide reasonable explanations for claim denials. It also prohibits insurers from refusing to issue or renew policies based on policyholders bringing such actions.

New York S00166 provides policyholders a private right of action against insurers who refuse or delay payment of insurance claims.

New York S00166, known as the Fair Insurance Settlement Practice Act (FISPA), aims to address unfair claim settlement practices by insurers. It allows policyholders to sue insurers for damages and equitable relief if they refuse or delay payment of a settlement. The act defines unfair practices, including misrepresenting facts, delaying investigations, and failing to provide reasonable explanations for claim denials. It also prohibits insurers from refusing to issue or renew policies based on policyholders bringing such actions.