NY: UM/UIM Law Changes

On Monday, Governor Cuomo signed legislation making the default purchase of UM/UIM (called SUM in NY, for Supplemental Uninsured/Underinsured Motorist coverage) the same as the insured’s purchase of liability insurance; the default had been the state minimum.  Insureds can opt out.  As someone who has seen terrible under-compensation of injuries due to failure to purchase, or failure to purchase sufficient amounts of, UM/UIM coverage, I applaud this change.  Eric Turkewitz covers it here.