NY S02985

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

Requires boat liability insurance rate schedules submitted to the superintendent to include appropriate premium reductions for insured persons who successfully complete an approved boating or advanced boating safety course.

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

Allows insurers to provide actuarially appropriate premium reductions upon submission of a boating safety completion certificate by the insured.

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