Provides that the attorney general may bring a civil action against a responsible party for recovery of certain costs and assessments arising from a climate disaster; provides that an insurer doing business in this state and the New York property insurance underwriting association who has suffered harm as a result of a climate disaster may bring a civil action against a responsible party.
Impact
This legislative proposal seeks to allow insurers who have suffered harm from climate disasters to join in civil actions, thereby enabling them to recover losses more effectively. Furthermore, the bill establishes strict liability for 'responsible parties,' which are defined as significant entities engaged in fossil fuel production and sales. This means that these entities could be held financially responsible for damages associated with climate disasters, providing a clearer pathway for recovery for affected policyholders and the state’s insurance providers.
Summary
Bill A09279 proposes significant changes to the insurance law in New York, particularly addressing how damages related to climate disasters are handled. Under the provisions of this bill, the attorney general is empowered to bring civil actions against responsible parties for recovery of costs and assessments arising from climate disasters. The bill defines a 'climate disaster' as a range of damaging events influenced by climate change, including but not limited to natural disasters like floods and hurricanes, wherein a contributing factor is climate change itself.
Contention
While proponents argue that this bill facilitates much-needed accountability for large fossil fuel companies, critics raise concerns regarding its implications on local governmental powers and businesses. There is apprehension that placing strict liability on corporations might stifle economic activity and lead to increased insurance rates. Additionally, the bill's potential to affect existing recovery funds and disaster response strategies has sparked debate, particularly concerning whether it might interfere with local or state-level disaster management initiatives.
Same As
Provides that the attorney general may bring a civil action against a responsible party for recovery of certain costs and assessments arising from a climate disaster; provides that an insurer doing business in this state and the New York property insurance underwriting association who has suffered harm as a result of a climate disaster may bring a civil action against a responsible party.
Provides that the attorney general may bring a civil action against a responsible party for recovery of certain costs and assessments arising from a climate disaster; provides that an insurer doing business in this state and the New York property insurance underwriting association who has suffered harm as a result of a climate disaster may bring a civil action against a responsible party.
Creates legal cause of action for persons/insurers to recover losses resulting from climate disaster against petroleum product producers based upon strict liability for deceptive/false statements as to climate impacts.
Enacts into law components of legislation relating to disaster relief for extreme weather events in Central New York, long-term climate resilience property improvements, and insurance discounts for climate mitigation efforts; establishes the central New York extreme weather relief and resiliency grant program to provide grants to certain persons and entities that suffered damage from covered events (Part A); expands and strengthens the resilient and ready program by providing grants to homeowners impacted by extreme weather events and providing grants for long-term climate resilience improvements for snow and tornado-related weather hazards (Part B); establishes the central New York property/casualty insurance resiliency incentive program to facilitate property/casualty insurance discounts for mitigation efforts (Part C).
Enacts into law components of legislation relating to disaster relief for extreme weather events in Central New York, long-term climate resilience property improvements, and insurance discounts for climate mitigation efforts; establishes the central New York extreme weather relief and resiliency grant program to provide grants to certain persons and entities that suffered damage from covered events (Part A); expands and strengthens the resilient and ready program by providing grants to homeowners impacted by extreme weather events and providing grants for long-term climate resilience improvements for snow and tornado-related weather hazards (Part B); establishes the central New York property/casualty insurance resiliency incentive program to facilitate property/casualty insurance discounts for mitigation efforts (Part C).
Providing for a judicial forum for claims for damages stemming from climate disasters, extreme weather attributable to climate change and harms resulting from long-term changes to the climate system.
Establishes a private right of action for deed theft; provides that victims of deed theft may maintain an action against a deed thief or a bank that provides a loan that assists in the commission of deed theft; authorizes victims of deed theft to recover actual damages, treble damages and attorneys' fees; defines terms.
Establishes a private right of action for deed theft; provides that victims of deed theft may maintain an action against a deed thief or a bank that provides a loan that assists in the commission of deed theft; authorizes victims of deed theft to recover actual damages, treble damages and attorneys' fees; defines terms.