NY A00654

Permits insurers to offer coverage for punitive damages, civil penalties, and other non-compensatory damages in liability insurance policies, with specified exclusions

Excludes personal lines insurance issued to natural persons for non-business purposes and commercial automobile liability insurance policies from this coverage

Allows coverage for vicarious liability from another's conduct or when directly assessed for gross negligence or reckless conduct, but prohibits coverage when liability results from intentional harm

Requires coverage to be expressly provided in the insurance policy to apply

Applies prospectively to insurance policies with effective dates on or after this act's effective date, which is immediate