NU Online News Service, 3:18 p.m. EDT–New York's Assembly Insurance Committee has released a report calling for legislation giving permanent status to the state's FAIR Plan property insurance pool, which again faces the prospect of termination.
The agency titled the New York Property Insurance Underwriting Association (NYPIUA), the state's home and business insurer of last resort, has repeatedly gone out of business over the years as Republicans and Democrats in the legislature squabble over insurance policy.
Last year, before enabling legislation resuscitated it, NYPIUA ceased operations for 53 days. Its operations are now due to sunset on June 30.
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