The New York Assembly approved a bill that would make permanent the New York Property Insurance Underwriting Association (NYPIUA), an insurance program to provide insurance “of last resort” to property owners in Long Island coastal areas and in some urban areas of the state where policies providing coverage are not commercially available.
The bill (A.750-A) would ensure that the property owners in these areas would have access to fire and extended coverage insurance for residential and commercial properties.
The NYPIUA’s authority expires every year and must be annually renewed by lawmakers.
The bill was delivered to the Senate.
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Florida Regulators Crack the Whip on Auto Warranty Firm, Fake Certificates of Insurance 
Preparing for an AI Native Future 
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in MS Sewage Backup 
