New YorkA 9792025-2026 Regular SessionHouseWALLET

Relates to contractual liability insurance policies

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Stronger insurance backing for service contracts

The law requires every service contract sold in New York to be backed by a service contract reimbursement insurance policy. The policy must be from an insurer authorized in New York or placed through a licensed excess line broker. Each provider can keep no more than five reimbursement insurance policies that cover contracts it is actively offering. If the required insurance is missing, lapses, or is ended, the provider has 45 days to meet another allowed compliance method under the law. This act takes effect immediately.

Sponsors & Cosponsors

Sponsor

Jen Lunsford
Democratic • House

Cosponsors

David Weprin
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 62 • No: 0

House vote • 6/9/2025

FLOOR Vote