Those of us who practice have to deal with the law as it is, and how it develops before the courts. Most of us rarely look at the bigger picture or bills that have not yet become law. It may interest some of you to know what legislators are thinking about.
If any of this interests you, check out the bill submitted by A. Grannis in the Senate on March 31, 2006 as bill A10545 reducing the statutory interest amount to 1% and requiring all first party no-fault suits to be submitted to arbitration. Check out http://public.leginfo.state.ny.us/menuf.cgi and put in "no-fault."
What do you think of Grannis bill?