NY Legislation to Addess Auto Insurance Market Failure for Transportation Nonprofits

  • Date: 09/15/2023

Governor Kathy Hochul today signed legislation to protect access to a not-for-profit carsharing service Ithaca Carshare and other similar groups by allowing risk retention groups registered in New York State to offer automobile insurance coverage to 501(c)(3) not-for-profit organizations. Legislation (S.5959-B/A.5718-B) authorizes risk retention groups, not chartered in this state, to issue automobile liability insurance coverage to 501(c)(3) organizations so that they may continue to offer transportation services. Ithaca Carshare and other similar not-for-profit carsharing organizations help New York State get closer to achieving its climate and equity goals by reducing traffic congestion and carbon emissions. Additionally, carshares provide access to private mobility options for people in underserved neighborhoods and offer grant-funded programs that enable these individuals to utilize their services.

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