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History
- Referred to transportation
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increases the minimum insurance coverage requirements for automobiles registered and/or operated within the state of New York
In Assembly Committee · Insurance · Sponsor James F. Brennan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the vehicle and traffic law and the insurance law, in relation to increasing the minimum insurance coverage requirements for automobiles registered and/or operated within the state of New York
Purpose
To increase the statutory minimum bodily injury liability insurance requirements.
Summary of provisions
This bill would amend sections 311 and 345 of the Vehicle and Traffic Law, and sections 3420 and 5210 of the Insurance Law, to raise the minimum bodily injury liability insurance requirements, as well as the minimum property damage insurance requirements.
Justification
The statutory minimum bodily-injury liability insurance limits have not been raised since 1996. Since that time, rising costs, particularly in the health care field, have rendered the current limits inadequate to provide proper compensation to injured persons in the event of a serious accident.
As the cost of health care continues to climb, more New Yorkers will receive increasingly inadequate compensation for auto accident injuries. As a result, many injured persons have to rely on the State and taxpayers to meet their health care needs.
This bill will ensure that motor vehicles driven in New York will, at a minimum, be covered by insurance at a level that will provide reasonable and adequate coverage for those New Yorkers seriously injured in an accident, and will help reduce the impact of auto accidents on Medicaid and other State health benefits.
Fiscal implications
None to the State
Effective date
This act shall take effect on the one hundred eightieth day after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.