S. 8624(Seward)/A. 11693(Morelle)

Property/Casualty; NYPIUA

Summary: This bill extends or makes permanent provisions of the Insurance Law that are designed to promote stability in New York's property/casualty insurance market. The bill is also designed to ensure the availability of property insurance in New York's coastal areas and throughout the state. Highlights include the following:

Effective Date: The bill takes effect immediately, except that sections eleven and twelve take effect January 1, 2009. In addition, the amendments to subsection (g) of section 5412 (g) of the Insurance Law do not affect the expiration of such section.

Last Action: Approved and signed by the Governor on June 30, 2008 (Chapter 136 of the Laws of 2008).