Senate Bill S6978

Signed By Governor
2011-2012 Legislative Session

Extends the effectiveness of certain provisions of law relating to workers' compensation rate service organizations

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-S6978 (ACTIVE) - Details

See Assembly Version of this Bill:
A10160
Law Section:
Insurance Law
Laws Affected:
Amd §§2305 & 2313, Ins L; amd §16, Chap 11 of 2008

2011-S6978 (ACTIVE) - Summary

Extends the effectiveness of certain provisions of law relating to workers' compensation rate service organizations from June 2, 2013 until June 2, 2018.

2011-S6978 (ACTIVE) - Sponsor Memo

2011-S6978 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6978

                            I N  S E N A T E

                             April 18, 2012
                               ___________

Introduced  by Sen. SEWARD -- (at request of the Department of Financial
  Services) -- 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 workers' compensation
  rate service organizations; and to amend chapter 11  of  the  laws  of
  2008,  amending  the workers' compensation law, the insurance law, the
  volunteer ambulance workers' benefit law and the volunteer  firefight-
  ers'  benefit  law, relating to rates for workers' compensation insur-
  ance and setting forth conditions for  a  workers'  compensation  rate
  service organization, in relation to the effectiveness thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subsection (e) of section 2305 of  the  insurance  law,  as
amended  by  chapter  11  of  the  laws  of  2008, is amended to read as
follows:
  (e) The superintendent: (1) by regulation may, in lieu of the  waiting
period  set  forth  in  subsection (b) of this section, require workers'
compensation insurance rate filings to be specifically  approved  before
they  become  effective;  and  (2) shall hold a public hearing if a rate
service organization makes a loss cost filing for workers'  compensation
that  is  an  increase  of  seven percent or more over the approved loss
costs from the prior year. Until June second,  two  thousand  [thirteen]
EIGHTEEN,  a  rate  service organization for workers' compensation shall
make a loss cost filing every year on or  before  June  first,  or  such
earlier date as is set by the superintendent.
  S  2.  Subsection (s) of section 2313 of the insurance law, as amended
by chapter 11 of the laws of 2008, is amended to read as follows:
  (s) Notwithstanding any other  provision  of  this  article,  no  rate
service  organization may file rates for workers' compensation insurance
after February first, two thousand eight, but a rate  service  organiza-
tion  may  file  loss  costs or other statistical information, including
rating plans, until  June  second,  two  thousand  [thirteen]  EIGHTEEN.
Notwithstanding  subsection  (j)  of this section, any such rate service

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14623-05-2
              

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