Albany Update: “Bad Faith”, Lead Paint Exclusion Ban, Privacy Act Introduced
Given New York's political climate, playing defense is one of the most important ways Big I NY stands up for you in Albany. New York's legislative session concludes in four weeks, and as is typically the case, numerous harmful bills have popped up.Last week, Assemblywoman Helene Weinstein (D, Brooklyn) introduced a bill to create a statutory “bad faith" cause of action, allowing policyholders to sue insurance companies for a wide range of alleged unfair conduct. The bill includes a raft of incentives for trial attorneys, including extra-contractual damages, double and treble damages, attorney fees, interest, and penalties for failing to settle claims in as little…