New York Laws
Article 50-B - Periodic Payment of Judgments in Personal Injury, Injury to Property and Wrongful Death Actions
5047 - Settlements.

ยง 5047. Settlements. Nothing in this article shall be construed to
limit the right of a plaintiff, defendant or defendants and any insurer
to settle property damage, personal injury or wrongful death claims as
they consider appropriate and in their complete discretion.