NY A01574

Increases minimum liability insurance coverage limits for private passenger vehicles from $25,000/$50,000/$50,000/$10,000 to $200,000/$300,000/$300,000/$25,000 for bodily injury, death, and property damage per accident.

Applies the same increased limits to uninsured motorist claims under the Motor Vehicle Accident Indemnification Corporation, raising recovery limits from $25,000/$50,000/$50,000/$1,000 to $200,000/$300,000/$300,000/$400,000 per accident.

Requires the superintendent of insurance to promulgate regulations implementing the new minimum coverage provisions at least 90 days prior to the act's effective date.

Maintains existing requirements that tow trucks carry a combined single limit of at least $300,000 for bodily injury or death and $25,000 for vehicle damage in the insured's care.

Takes effect immediately upon enactment.