N.Y. Comp. Codes R. & Regs. tit. 11 § 161.2

Current through Register Vol. 46, No. 41, October 9, 2024

Section 161.2 - Tort reform refiling requirements

(a) To alleviate affordability and availability problems affecting commercial risk, professional liability and public entity insurance, the omnibus and companion laws contain a number of significant measures in the nature of tort reform:

(1) modification of the joint and several liability doctrine;

(2) new appellate standard for review of verdicts;

(3) credit for collateral sources;

(4) itemized verdicts required in tort actions;

(5) periodic payment of substantial future damages;

(6) penalties for frivolous litigation;

(7) immunity for uncompensated nonprofit directors and officers; and

(8) modification of toxic tort statute of limitations.

(b) With the exception of paragraphs (a)(7) and (8) of this section, these reforms are across-the-board measures, affecting tort actions regardless of the identity of plaintiffs or defendants. Collectively, these meaningful measures can reasonably be expected to reduce commercial risk, professional liability and public entity insurance costs. These overall cost savings must be reflected in appropriate reduced rates for these coverages.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 161.2