It’s laws like this that shackle NY State residents. Bad enough that we spend more time and money on law suits than anything else. If it takes someone 10 years to figure out he was injured then we should not protect stupidity. This idiotic bill will drain resources of the handful of insurers who actually take on this risk. There are thousands of liability insurance company in this country and only a handful do business in New York. With the extension of the statute they may be faced with future costs defending and paying awards on premiums that were collected 10 years earlier. What motivates these politicians who’s elections are funded by deep pocket law firms?
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It’s laws like this that shackle NY State residents. Bad enough that we spend more time and money on law suits than anything else. If it takes someone 10 years to figure out he was injured then we should not protect stupidity. This idiotic bill will drain resources of the handful of insurers who actually take on this risk. There are thousands of liability insurance company in this country and only a handful do business in New York. With the extension of the statute they may be faced with future costs defending and paying awards on premiums that were collected 10 years earlier. What motivates these politicians who’s elections are funded by deep pocket law firms?