Bill
S 4157
Bill S 4157 repeals anti-arson application requirements, streamlining insurance processes for companies and policyholders, potentially lowering costs and simplifying access.
Bill Number: S 4157
Title: Repeals section 3403 of the insurance law relating to anti-arson applications
Status: Substituted by A112
Introduced: February 03, 2025
Classification: Bill
Bill S 4157 aims to repeal section 3403 of the insurance law, which pertains to anti-arson applications. The primary intent of this legislation is to eliminate the existing requirements related to anti-arson measures that are currently mandated under this section. This repeal is expected to streamline insurance processes and potentially reduce administrative burdens for both insurers and policyholders.
Repeal of Section 3403: The bill specifically targets the removal of the anti-arson application requirements, which may include stipulations for insurance companies regarding the assessment and management of arson risks.
Impact on Insurance Practices: By repealing this section, the bill could lead to changes in how insurance companies evaluate risks associated with arson, potentially affecting underwriting practices and policy pricing.
Insurance Companies: Insurers may experience a reduction in regulatory compliance costs and administrative tasks associated with anti-arson applications.
Policyholders: Individuals and businesses seeking insurance may find the process simplified, potentially leading to more accessible insurance options.
Law Enforcement and Fire Departments: The repeal may influence how these entities collaborate with insurance companies regarding arson investigations and risk assessments.
February 03, 2025: Bill S 4157 was introduced and referred to the Insurance Committee.
May 05, 2025: The bill was placed on the first report calendar.
May 06, 2025: It advanced to the second report calendar.
May 07, 2025: The bill was advanced to a third reading.
June 06, 2025: Bill S 4157 was substituted by A112, indicating that the provisions may have been incorporated into a companion bill for further consideration.
Bill S 4157 represents a significant shift in the regulatory landscape for insurance practices concerning arson risk management. By repealing section 3403, the bill seeks to simplify processes for insurers and policyholders alike, although the full implications of this change will depend on how the insurance industry adapts to the new regulatory environment. The substitution of this bill by A112 suggests ongoing legislative activity and potential adjustments to the proposed changes.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
