BCW Joins with Coalition Urging Veto of Latest Version of Wrongful Death Lawsuits Legislation

The BCW has joined with 34 other business organization statewide in a collation urging Gov. Hochul to veto S.8485B/A.9232B, the Legislature’s latest version of the bill to radically expand the types of damages awarded in wrongful death lawsuits.

“Although the Legislature amended the bill, the current proposal fails to address the issues laid out in your previous veto memos. It also does nothing to address the concerns of those who oppose the bill, including the State Budget Office,” read the letter to the Governor.

The letter noted a recent actuarial analysis that said that both the public and private sectors can anticipate the same devastating economic impacts as all previous iterations of the bill. “This will further raise the cost of goods and services for consumers and our small businesses in a year where when the high cost of living is “the defining issue in this year’s election.”

The collation noted that despite consistent calls to do so, the legislature has provided no fiscal analysis of this legislation. “Any claim that this bill has no fiscal implications, as the sponsors’ memo states, is misleading and absurd. Not only will the private sector, including our healthcare system, be saddled with enormous new costs under this bill, so too will our government services, school systems, public transportation infrastructure, and public hospitals.”

According to an actuarial analysis from Milliman Inc., this latest bill will have the same economic impact as previous versions, including a 40% increase in medical professional liability premiums. The business groups warned that an additional cost of that magnitude is enough to drive physicians to avoid practicing in New York altogether.

The letter to Gov. Hochul concludes, “With the rising cost of groceries, housing, and healthcare, and growing tax and fee burdens, New Yorkers are in the middle of an affordability crisis. This coalition urges you to once again veto legislation that will dramatically alter the liability environment in New York, putting the state out of line with the rest of the nation.”