NY S00789

Authorizes insurance carriers licensed to issue yacht or boating liability insurance to grant rate reductions for boat owners who complete a boating safety course, advanced boating safety course, or hold a valid U.S. Coast Guard operators license.

Requires insurance rate schedules for boat liability insurance to provide appropriate premium reductions for insureds who complete an approved boating safety or advanced boating safety course.

Defines "boat" as any residential or pleasure vessel that is not a crew racing shell, and requires courses to be approved by the commissioner of parks, recreation and historic preservation.

Excludes rate reduction benefits for courses taken as a result of boating infractions under navigation law sections 45 or 49.

Takes effect January 1 following enactment, with implementation actions authorized immediately upon passage.