NY A03106

Directs the Department of Financial Services to study minimum coverage amounts for non-commercial auto insurance, including liability, uninsured motorist, and no-fault coverage required under current law

Study must evaluate whether current minimums adequately protect consumers and examine consumer purchasing patterns for higher coverage levels

Department must analyze impact of higher coverage amounts on premiums, claims processing, and consumer satisfaction

Requires consultation with stakeholders including insurance companies, producers, and consumer advocacy groups

Report with findings and recommendations on whether to increase minimum coverage amounts must be submitted to the Governor and legislative leaders by April 15, 2027