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New Law Increases Insurance Company Transparency

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As 2021 came to a close, New York’s Governor Kathy Hochul signed a bill, called the Comprehensive Insurance Disclosure Act, which requires more transparency from insurance companies involved in litigation claims.

This new law aims to clearly define the duties of insurance companies when a lawsuit is brought against their insureds. All policies of insurance that may be available to satisfy a judgment must be produced to the plaintiff’s attorney within 60 days of answering a complaint. A defendant also must produce applications of insurance and contact information for the adjuster handling the claim. Interestingly, both the defendant and its attorney must certify the accuracy of this information.

The new law also requires the disclosure of any lawsuit that has reduced or may reduce the insurance policy limits, including its case caption and the names and contact information for all represented parties. If attorneys’ fees have reduced the available limits, the defendant also is required to disclose that information.

The Comprehensive Insurance Disclosure Act is designed to resolve disputes about what type of insurance information is subject to disclosure in lawsuits venued in New York. It places a considerable new burden on defendants and their insurance carriers, and it provides for helpful information for claimants involved in litigation.

If you have questions about litigation – including claims for injuries you sustained because of someone else’s carelessness – feel free to call Jennifer Scharf, Daniel Caffrey, or William Gerken at The Coppola Firm. We’re here to help.

Lisa Coppola

Written by Lisa Coppola

Founder of The Coppola Firm

Lisa A. Coppola, Esq. understands the challenges her clients face, whether they’re starting a new business, taking their existing operations in a new direction, or facing a claim or threat.

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