New York's Assembly Insurance Committee chairman, Assemblyman Pete Grannis, D-Manhattan, has begun a campaign to extend the state's FAIR Plan property insurance pool before it reaches its expiration date at month's end.
The legislation for the plan known as the New York Property Insurance Underwriting Association has frequently been allowed to sunset and then been resuscitated in a continuing conflict between the Democratic-led Assembly and Republican-controlled Senate.
Statutory authorization for NYPIUA "is set to expire on June 30, 2005, a week after the state legislature is scheduled to adjourn," Mr. Grannis noted in his statement.
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