NY S05203

Requires all public vessels certified to carry passengers on New York navigable waters to maintain marine protection and indemnity insurance or surety bonds with minimum coverage of one million dollars per occurrence for injuries or deaths from negligent operation.

Permits public vessel owners to obtain insurance through authorized insurers or licensed excess line brokers, or alternatively become self-insured if approved by the Commissioner of Parks, Recreation and Historic Preservation upon demonstration of financial ability.

Requires vessel owners to produce proof of insurance to inspectors before receiving certificates of inspection or temporary operating permits, and to display proof of coverage upon request by enforcement officials or injured persons.

Establishes that failure to carry required insurance is a misdemeanor; failure to produce proof of insurance upon request is presumptive evidence of operating without coverage, with a 24-hour affirmative defense if proof is provided within that timeframe.

Amends the insurance law to add marine protection and indemnity insurance (paragraph twenty-one) to the list of insurance types that excess line brokers may procure from unauthorized insurers, without requiring reciprocity for placement on behalf of purchasing groups.