NY A00071

Allows insurers to offer and insured parties to purchase coverage for punitive damages, civil penalties, and other non-compensatory damages in liability insurance policies

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

Permits coverage for vicarious liability from another person's conduct and for direct liability arising from gross negligence or reckless conduct

Prohibits coverage when liability results from actions intentionally meant to cause harm, damage, or injury

Applies only to insurance policies with effective dates on or after the law takes effect