Van Den Essen v. Motor Vehicle Accident Indemnification Corp.

The legislation at issue in this case *141amended, inter alia, the then Motor Vehicle Accident Indemnification Corporation Law (Insurance Law former §600 et seq.), to raise the maximum amount of MV AIC’s liability for the payment of claims and benefits to the estates of persons killed by the acts of financially irresponsible motorists from $10,000 to $50,000 per person (L 1979, ch 665, §§ 2, 3). By its terms, the legislation became effective on December 1, 1979, and provided that it "shall apply to any policy of motor vehicle liability insurance providing bodily injury, property damage or…