§ 3445 — Windstorm insurance notice; deductible trigger standards

§ 3445. Windstorm insurance notice; deductible trigger standards. (a)\nThe superintendent shall by regulation establish disclosure requirements\nwith respect to the operation of any deductible in a homeowner's\ninsurance policy or dwelling fire personal lines policy which applies as\nthe result of a windstorm. Such regulations shall prescribe the form of\na notice to be provided by an insurer to an insured. The notice shall\nexplain in clear and plain language the amount of the deductible, the\ncircumstances under which the deductible applies and any other matters\nwhich the superintendent, in his or her discretion, shall deem necessary\nor appropriate.\n (b) The superintendent shall by regulation establish standards for\nhurricane windstorm deductibles, which create, to the greatest extent\npossible, uniformity in the operation of such deductibles with respect\nto the triggering event.\n The superintendent shall promulgate such regulations by emergency\nadoption or otherwise, within one hundred eighty days of the effective\ndate of the chapter of the laws of two thousand twenty-three which added\nthis subsection. Notwithstanding paragraph seven of subsection (a) of\nsection three thousand four hundred twenty-five of this article, any\nchanges in a homeowner's insurance policy or dwelling, fire, or personal\npolicy registered as a result of the adoption by the superintendent of\nregulations under this section, may be applied to such policies on the\npolicy's initial renewal date or the policy's next annual renewal after\nthe effective date of such regulations.\n