As noted in our post on January 28, 2022, there are a number of changes to the New York Comprehensive Insurance Disclosure Act easing the burden on insurers and defendants that are expected to pass. These changes are found in SB 7882. On February 14, 2022, SB 7882 was amended slightly to eliminate the requirement that the policies relevant to the litigation be sold or delivered in the State of New York. Thus, if a policy is relevant to the litigation, it need not be sold or delivered in New York. The remaining changes set forth in SB 7882 survived the amendment process. The new text of the bill can be found here.
Because SB7882 was “amended on third reading,” it must now sit on the desk of the assembly members in printed form for three days. The expectation remains that the bill will pass prior to March 1, 2022, when automatic disclosures for existing cases may become due.
We will continue to update as SB 7882 makes its way through the legislative process.
