Chapter Amendment to New York’s Comprehensive Insurance Disclosure Act Passes the Senate
New York, N.Y. (January 26, 2022) - A chapter amendment to the Comprehensive Insurance Disclosure Act is presently before the Assembly, having passed the Senate earlier today. As a chapter amendment, it was previously red-lined by the Governor and agreed upon by various leaders of both houses. Based on the expedited process, we expect the chapter amendment to be adopted.
Accordingly, the current provisions of the Bill may be amended to include the law’s application only to new cases, disclosure within 90 days of serving the answer, disclosure of policies that only relate to the claim being litigated, disclosure only of the total limits available under the policy, and policy applications are not required to be disclosed.
If the Bill passes the Assembly, it will be delivered to the Governor for either signature or veto. It is expected that the chapter amendment will be signed into law because the terms were negotiated between the Governor and leaders of the houses.
We will continue to update regarding the amendments being signed into law by the Governor. In the meantime, please feel free to contact New York Managing Partner Greg Katz, Partner Ellen Greiper, or Senior Associate Kristen Carroll for any questions.