NY A05415

Amends Navigation Law § 78-a to authorize insurance carriers to grant rate reductions to yacht and boat owners who complete a boating safety course, an advanced boating safety course, or hold a valid U.S. Coast Guard operators license.

Adds new Insurance Law § 2336-b requiring boat liability insurance rate schedules to provide appropriate premium reductions for insureds who complete approved boating safety or advanced boating safety courses.

Defines "boat" as any residential or pleasure vessel that is not a crew racing shell, and requires boating safety certificates to be non-alterable documents provided upon course completion.

Exempts mandatory safety course attendance resulting from boating infractions under Navigation Law §§ 45 or 49 from insurance rate reduction requirements.

Authorizes the superintendent to establish rules and guidelines for implementing premium reductions and takes effect January 1 following enactment, with immediate authority to adopt necessary regulations.