§ 2703 — Insurer claims handling

New York § 2703

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 27: Holocaust Victims Insurance Act of 1998

Text

§ 2703. Insurer claims handling. (a) Notwithstanding any inconsistent\nprovision of this chapter, any insurer organized, registered, licensed\nor accredited to do an insurance business in this state, in receipt of a\nclaim against it arising from an occurrence during the period between\nJanuary first, nineteen hundred twenty-nine and December thirty-first,\nnineteen hundred forty-five from an individual that such insurer knows,\nor reasonably should have known, is a Holocaust victim shall:\n (1) diligently and expeditiously investigate such claim;\n (2) allow claimants to provide alternative documentation which does\nnot meet the usual standards of proof required by an insurer to\nsubstantiate the particular claim, subject to standards established for\nsuch documentation as prescribed by regulations promulgated by the\nsuperintendent; and\n (3) attempt to resolve, settle and, if appropriate, make payments on\nclaims irrespective of any statute of limitations or notice requirements\nimposed by any law or such insurance policy issued to or covering the\nlife, property or interests of a Holocaust victim, provided that the\nclaim is submitted to the insurer within ten years from the effective\ndate of this article.\n (b) Failure to abide by the terms of this section shall constitute a\ndefined violation for purposes of subsection (b) of section two thousand\nfour hundred two of this chapter.\n (c) This article shall serve as additional and conclusive notice that\nthe superintendent is currently investigating all claims pertaining to\nthe victims of the Holocaust. Evidence of the intentional destruction or\nalteration of any records or other materials pertaining to such claim\nshall be admissible in both administrative and judicial proceedings as\nevidence in support of any claim being made against the insurer\ninvolving the destroyed or altered material. It shall be permissible\nfor an administrative or judicial court to infer that the intentional\ndestruction or alteration of any records or other materials pertaining\nto a claim was done in order to prevent discovery of information to\nsupport any claim of a Holocaust victim.\n