In the wake of a devastating EF2 tornado that hit Rome, New York, in July 2024, lawmakers are moving to strengthen disaster resilience with a sweeping legislative package. Senate Bill 7761, introduced by Sen. Joseph Griffo on May 5, 2025, outlines a three-part initiative aimed at delivering immediate aid and long-term climate mitigation tools for Central New York residents, businesses, municipalities, and insurers.
Under the revised structure, policyholders will receive a 5% credit for fewer than five consecutive years of membership, 10% for at least five but fewer than 10 years, 12.5% for at least 10 but fewer than 15 years, and 15% for at least 15 consecutive years. Source link
GEICO’s accident forgiveness program is marketed as a way to prevent rate increases following a policyholder’s first at-fault accident. The insurer states on its website: “Your insurance rate won’t go up as a result of your first otherwise surchargeable, at-fault accident.” However, the lawsuit argues that the company’s handling of premium adjustments contradicts its marketing…
