NY A04697

Requires all public vessels certified to carry passengers on New York navigable waters to maintain marine protection and indemnity insurance or approved surety bonds with minimum coverage of $1 million per occurrence for personal injury or death.

Permits public vessel owners to obtain insurance through authorized insurers or licensed excess line brokers, and allows self-insured owners approved by the commissioner to purchase surety bonds instead.

Amends Insurance Law section 2105 to authorize excess line brokers to procure marine protection and indemnity insurance from unauthorized insurers.

Establishes the commissioner's authority to issue self-insurance certificates to public vessel owners with demonstrated financial ability to cover liability judgments, with authority to cancel upon reasonable grounds.

Requires proof of insurance or surety bond to be produced to inspectors before certificates of inspection or temporary permits are issued, and makes vessel operation without required coverage a misdemeanor; takes effect 180 days after enactment.