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New York Insurance Industry Proposed Legislation

Eversheds Sutherland (US) LLP

New York’s proposed FAIR Business Practices Act – potential implications for business

The Consumer Financial Protection Bureau recently signaled a retreat from its regulatory and enforcement posture by outlining its 2025 supervisory and enforcement priorities and rescinding 67 regulatory guidance documents. In...more

Hinshaw & Culbertson - Insights for Insurers

Grieving Families Act Reintroduced: What New York Insurers Need to Know

On February 5, 2024, New York State Senator Hoylman-Sigal once again brought forth the Grieving Families Act ("GFA") in its latest iteration: Senate Bill 2024-S8485. Continue reading for how this latest version of the act...more

Rivkin Radler LLP

A Sleeping Giant: New York’s Grieving Families Act

Rivkin Radler LLP on

The pen is mightier than the sword — especially a pen held by a sitting governor. Currently sitting on the desk of New York’s governor is a piece of proposed legislation known as the “Grieving Families Act” which, if signed...more

Bressler, Amery & Ross, P.C.

New York State Legislature to Consider Additional Exceptions to the Diligent Effort Mandates for Excess Lines Policies offered by...

Earlier this spring, proposed legislation was introduced in the New York Sate Legislature which could lessen the burdens imposed on unauthorized insurers seeking to offer excess lines coverage in New York and possibly expand...more

ArentFox Schiff

Legislation Introduced Adding Exception to Diligent Effort Requirement In New York For Certain Excess Line Policies

ArentFox Schiff on

Almost all states promulgate regulations regarding “diligent efforts” that licensed excess line brokers must perform while wishing to offer permissible coverage from unlicensed insurance companies in that state’s market, when...more

Pillsbury - Policyholder Pulse blog

New York Bad Faith Bill Targets Insurers Behaving Badly

When Frank Sinatra famously sang “if I can make it there, I’ll make it anywhere,” he was probably not crooning about making a claim for insurer bad faith. New York has indeed acquired a reputation as a difficult place to...more

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