January 19, 2022 — As part of our ongoing partnership with our clients and broker partners, we strive to always keep you up to date regarding the new laws and regulations that may have an impact on your business.
On December 31, 2021, New York State Governor Hochul signed into law the Comprehensive Insurance Disclosure Act.
The newly-enacted Comprehensive Insurance Disclosure Act, CPLR 3101, requires defendants, in litigated liability matters, to provide significant insurance-related information within 60 days from the answer including:
(a) insurance adjuster contact information;
(b) the limits remaining under any insurance policies;
(c) copies of primary, excess and umbrella policies, as well as "contracts or agreements" issued by "risk retention groups" or captive insurance companies; and
(d) defendant and defendant's attorney certification that the insurance disclosure is accurate. The disclosure rule requires regular updates throughout the litigation.
The law is retroactive to pending litigated matters. Defendants are required to comply with these requirements by March 1, 2022.
We understand that amendments may be forthcoming. We encourage you to work closely with your defense counsel, insurance carrier and/or brokers to ensure compliance with this regulation.
In the meantime, visit www.nysenate.gov, or consult with your defense counsel for more detailed information and situational questions that may have an impact on current or future litigation.
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