NY Lawmakers Advance Bill Barring Anti-Concurrent Clauses

Law360, New York (May 23, 2013, 5:05 PM EDT) -- The New York Assembly's insurance committee on Thursday approved legislation that would outlaw anti-concurrent causation clauses — policy language that wipes out coverage when losses have both covered and excluded causes — but amendments to soften the measure are likely in store, the committee chair told Law360.

At a hearing Thursday, a majority of committee members stood behind A. 7455, a Superstorm Sandy-inspired bill introduced last week by Democratic Assemblyman Phil Goldfeder, D-Rockaway Beach.

The legislation would ban anti-concurrent clauses, which can nix coverage when a loss...
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