Extends provisions of the property/casualty insurance availability act and the authority of the New York property insurance underwriting association.

This bill amends the insurance law to extend provisions of the property/casualty insurance availability act and the authority of the New York property insurance underwriting association. It modifies the effective dates and conditions for certain insurance policies and rates, ensuring that the legal rights of insurers and policyholders are not impaired. The bill also specifies that the provisions will cease to be in effect after June 30, 2029, but policies and obligations incurred by the association will remain valid.

Extends provisions of the property/casualty insurance availability act and the authority of the New York property insurance underwriting association.

This bill amends the insurance law to extend provisions of the property/casualty insurance availability act and the authority of the New York property insurance underwriting association. It modifies the effective dates and conditions for certain insurance policies and rates, ensuring that the legal rights of insurers and policyholders are not impaired. The bill also specifies that the provisions will cease to be in effect after June 30, 2029, but policies and obligations incurred by the association will remain valid.