Advocacy

What Happened:On Thursday evening, Governor Hochul signed Big I NY-supported amendments to the Comprehensive Insurance Disclosure Act (CIDA). Fifty-five days since the passage of the CIDA, agents and insurers can finally breathe a sigh of relief as significant beneficial changes are officially on the books. The CIDA will now apply only to actions filed after December 31, 2021 (not all pending actions, as originally passed). Additionally, policy applications are no longer subject to mandatory disclosure, PIP actions are exempted from disclosure, and the time frame for disclosure will be extended from 60 days to 90.What's Next:While the amended CIDA is less sweeping than the original, it still…

​On Thursday evening, Governor Hochul signed Big I NY-supported chapter amendments to the new Comprehensive Insurance Disclosure Act (CIDA), which are effective immediately. Crucially, the CIDA will now apply only to actions filed after December 31, 2021 (not all pending actions, as originally passed). Agents who received insurance disclosure demands for litigation already pending prior to 2022 can disregard these demands. Additionally, PIP actions are exempted from disclosure, and the time frame for disclosure will be extended from 60 days to 90. Read the latest E&O report on the amended bill here.​Source

Chapter Amendments to Insurance Disclosure Act Passed:This week, agents and insurers breathed a​​ sigh of relief as the legislature finally passed the highly anticipated chapter amendments to the new Comprehensive Insurance Disclosure Act (CIDA). As expected, the CIDA will now apply only to actions filed after December 31, 2021 (not all pending actions, as originally passed). Additionally, PIP actions are exempted from disclosure, and the time frame for disclosure will be extended from 60 days to 90. Anticipating these favorable changes, Big I NY prepared a summary in our February 2022 E&O report. The governor is expected to promptly sign the amendments into law and…