A10206 Summary:
| BILL NO | A10206 |
| SAME AS | No Same As |
| SPONSOR | Rivera |
| COSPNSR | |
| MLTSPNSR | |
| Directs the New York state department of financial services to conduct a study on the rising costs of motor vehicle insurance in the state which shall include certain analyses and recommendations. | |
A10206 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 10206 IN ASSEMBLY February 12, 2026 ___________ Introduced by M. of A. RIVERA -- read once and referred to the Committee on Insurance AN ACT in relation to directing the New York state department of finan- cial services to conduct a study on the rising costs of motor vehicle insurance The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. 1. The superintendent of financial services is hereby 2 authorized and directed to prepare or have prepared a study concerning 3 the rising costs of motor vehicle insurance in the state of New York. 4 Such study shall evaluate no-fault reform polices enacted in other 5 states; analyze the factors that have increased motor vehicle insurance 6 costs, including, but not limited to, fraudulent claims and the 7 increased costs of labor associated with the maintenance and repair of 8 motor vehicles; and identify opportunities for legislative reform 9 related to reducing applicable statutes of limitation and capping jury 10 awards. The study shall include recommendations for interventions to 11 lower the costs of motor vehicle insurance for New Yorkers. 12 2. The study required by subdivision one of this section shall be 13 completed and posted on the department of financial services' website by 14 September 30, 2027. 15 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14523-01-6