Once again, the New York State Legislature is considering misguided legislation – A7285-A /S6813-A – that could drastically increase litigation and lead to higher costs for consumers.
If passed, A7285-A/S6813-A would greatly expand first and third-party bad faith provisions. It would also allow punitive damages to be determined by a jury and even double or triple damages in some circumstances along with other new confusing procedural provisions that could increase costs and litigation.
A Milliman study found that similar, but less extreme, legislation could increase premiums by $6.9 billion, but that figure could be much higher under A7285-A/S6813-A.
Trial lawyers are only pushing these bills to increase the volume and length of litigation in New York courts as well as their profits. Ultimately, more litigation will lead to higher court costs, which could then get passed down to everyday New Yorkers.
Thank you in advance for your support and for taking action.