N.Y. governor cites unintended consequences, higher premiums
New York Gov. Kathy Hochul has again vetoed an objectionable wrongful death bill (S6636/A6698) on the grounds of “potential for significant unintended consequences.” Her concerns ranged from the possibility of increased insurance premiums, to risking the financial wellbeing of public hospitals and other health care facilities. Several industry groups, such as the American Property Casualty Insurance Association (APCIA), applauded Hochul’s veto of the bill, which APCIA states would have resulted in a major expansion of damages associated with wrongful death actions.
An actuarial analysis of the original version of the bill, prepared by Milliman, found that it could increase liability premiums by over $2.1 billion annually. Furthermore, if passed, the bill would have changed New York’s wrongful death statute by allowing grieving families to recover damages for emotional suffering resulting from the death of a loved one. It also would have expanded who could bring a wrongful death action and extended the statute of limitations for wrongful death actions.
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Angela Sabarese, Associate Editor of CLM. angela.sabarese@theclm.org
CLM’s Insurance Coverage Committee is a strong network of insurance professionals and attorneys who analyze and litigate insurance coverage issues. The Committee offers lectures, webinars, articles, and other educational support to provide a discussion of current insurance coverage issue and best practices for claims professionals and attorneys.
