"Senate Majority Leader Andrea Stewart-Cousins stated that the proposed effort to lower car insurance premiums will largely remain in the final budget, except for changes to liability laws that would strip compensation from those more than 51 percent responsible for a crash."
"Stewart-Cousins emphasized that the current joint and several liability system ensures victims can collect full compensation, even if one responsible party cannot pay their share, which is crucial for protecting the rights of crash victims."
"The societal cost of crashes is estimated at $135 billion a year, highlighting the significant impact of car accidents on the economy and the importance of effective insurance reforms."
Legislative leaders have agreed on car insurance reforms that reduce legal rights for crash victims, while only requiring minor concessions from insurance companies. Governor Hochul's proposal to lower premiums will largely remain intact, but her effort to change liability laws was unsuccessful. The current system allows victims with less than 50 percent responsibility to seek compensation. Senate Majority Leader Stewart-Cousins expressed hope for benefits and rebates for drivers, despite the limited savings projected. Progress on budget bills is expected soon, but a final agreement has not yet been reached.
Read at Streetsblog Empire State
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