The legislature has passed a one-year extension of New York State's FAIR Plan property insurance pool, avoiding its usual practice of letting the program expire and creating chaos for policyholders.
Approval came Tuesday just days before the June 30 sunset date for the plan known as the New York Property Insurance Underwriting Association (NYPIUA). Republican Gov. George Pataki is expected to sign the measure.
Chris Olli, an aide to Assemblyman Alexander Grannis, D-Manhattan, chairman of the Assembly's Insurance Committee, said the Assembly passed the one-year extension of NYPIUA Monday and the Senate passed it the following day.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
