S T A T E O F N E W Y O R K
I N S E N A T E
February 10, 2012
Introduced by Sen. SEWARD -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance
AN ACT to amend the insurance law, in relation to permitting insurers to
make available multiple rating programs for commercial insurance with-
in the same company
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 2352 of the insurance law, as added by chapter 457
of the laws of 2011, is amended to read as follows:
S 2352. Multiple rating programs. (a) Subject to the superintendent's
prior approval, an insurer may establish more than one rating program
within the same company for policies of insurance that are subject to
section three thousand four hundred twenty-five OR SECTION THREE THOU-
SAND FOUR HUNDRED TWENTY-SIX of this chapter; provided that:
(1) each rating program shall apply only to policies newly written on
or after the effective date of the rating program but prior to the
effective date of any subsequently approved rating program; provided
however if an insurer terminates a rating program, then the insurer
shall renew the policies that were subject to the terminated rating
program in a subsequently approved rating program.
(2) the provisions of subsection (f) of section three thousand four
hundred twenty-five and subsection (b) of section two thousand three
hundred forty-nine of this chapter shall be applied to each rating
program TO WHICH THEY ARE APPLICABLE separately.
(b) The superintendent may promulgate rules and regulations to imple-
ment the provisions of this section.
S 2. This act shall take effect on the ninetieth day after it shall
have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.