Key amendments to New York’s Comprehensive Insurance Disclosure Act
New York’s Comprehensive Insurance Disclosure Act (the “Act”) has been amended, limiting the scope of insurance information that defendants must provide in a litigation. Proposed amendments to New York’s Comprehensive Insurance Disclosure Act (the “Act”) were passed by the New York Senate and Assembly on January 26, 2022 and February 17, 2022, respectively. The bill was delivered to New York Gov. Kathy Hochul on February 24, 2022 and signed into law on February 25, 2022. The newly amended Act should come as welcome news to defense counsel, insureds, and insurers as it provides additional time to complete insurance disclosures, no longer applies retroactively, and limits the information required in the disclosures.
Download our full memo below.