Senate bill · S8585 (2025-26)
Enacts the climate accountability and loss recovery act
New York State Senate
Same as A9279, the matching bill in the Assembly.
Summary
Enacts the "climate accountability and loss recovery act"; provides that the attorney general may bring a civil action against a covered entity for recovery of certain costs and assessments arising from a climate disaster.
Summary from NY Open Legislation. How we handle summaries
Amends the Insurance Law.
From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 20, 2026. About our data
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Purpose, from the sponsor's memo
Section one of the bill titles the act the "Climate Accountability and Loss Recovery Act." Section two of the bill adds new section 3463 to the insurance law. Subdivision (a) the new section 3463 establishes definitions for "climate disaster," "fossil fuel product," "covered entity," and "market disruption." Subdivision (b) of the new section 3463 permits the office of the Attor- ney General to bring a civil action on behalf of the people of New York against any covered entity to recover assessments imposed on member insurers of NYPIUA, surcharges or premium increases imposed on policy- holders based on project climate disasters, or costs or losses incurred by policyholders, insureds, or taxpayers that arise from a climate disaster and are transferred or backstopped through a residual market mechanism. It authorizes the Attorney General to recover climate attrib- utable damage, restitution, disgorgement, reasonable costs and disburse- ments incurred, and other relief that a court or jury deem proper. It also provides that the Attorney General may not recover on behalf of any person who is not a policyholder or insured, or recover amounts exceed- ing applicable coverage limits. Subdivision (c) of the new section 3463 establishes that covered enti- ties shall be strictly liable for any damages, restitution, or other relief afforded under this section. Subdivision (d) of the new section 3463 provides that, in any action under this section, the court shall offset any restitution award by amounts already reimbursed in claims arising from the same case or controversy, and requires claimants seeking restitution to certify any amounts received from an insurer or NYPIUA for the same loss. Section three of the bill amends section 2304 of the insurance law to require proceeds recovered pursuant to section 3463 to be considered as factors in setting insurance rates. Section four of the bill provides for severability of the provisions in the event any are found to be invalid. Section five of the bill sets forth the effective date.
Filed with the bill. Read it on nysenate.gov (opens in a new tab)
Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Insurance · New York State Assembly
Also referred to Insurance · New York State Senate, Rules · New York State Assembly, Rules · New York State Senate.
Cosponsors
Emily Gallagher, Gabriella Romero and 9 more on Agora
Showing the cosponsors who are on Agora, A to Z. The official record may list more.
Read on NY Senate (opens in a new tab)- Democratic11
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The sponsor's argument
Why Brian Kavanagh says this is needed
Climate change has imposed extraordinary and escalating costs on New York State, its residents and municipalities, and its insurance markets. Severe flooding, heat waves, and convective storms are increasingly expensive to recover from, and New York communities are facing mounting damage. In 2012, Superstorm Sandy caused more than $25 billion in insured losses, and in 2021, Hurricane Ida caused over $200 million in insured losses. Increasingly frequent severe storms continue to strain the state's insurance infrastructure. These costs ultimately fall on taxpayers through costs associated with emergency response, disaster relief, and infrastructure repairs, and insurance policyholders through rising premiums. Advances in attribution science now enable researchers to identify the contribution of climate change to specific weather events. This bill would provide a path to allow those who profited from products that they knew would contribute to climate disasters to be held accountable for a proportionate share of the resulting costs, rather than forcing New York's taxpayers and home- owners to shoulder the full burden. It would establish frameworks for the Attorney General to recover costs from parties responsible. This legislation would protect the stability of New York's insurance market and reduce pressure on taxpayers and policyholders, promoting both fairness and accountability in addressing the costs of climate change. PRIOR LEGISLATTHISTORY: This is a new bill.
This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.
Full history
- Jun 1, 2026
Amend (t) and Recommit to Insurance
AMEND (T) AND RECOMMIT TO INSURANCE
NY Assembly
- May 29, 2026
Amend (t) and Recommit to Insurance
AMEND (T) AND RECOMMIT TO INSURANCE
NY Senate
- Jan 7, 2026
Referred to committee
REFERRED TO INSURANCE
NY Assembly
- Jan 7, 2026
Referred to committee
REFERRED TO INSURANCE
NY Senate
- Nov 21, 2025
Referred to committee
REFERRED TO INSURANCE
NY Assembly
Show full history (1 earlier event)Show less history
- Nov 17, 2025
Referred to committee
REFERRED TO RULES
NY Senate