Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to insurance |
Jun 21, 2013 |
committed to rules |
Mar 20, 2013 |
advanced to third reading |
Mar 19, 2013 |
2nd report cal. |
Mar 18, 2013 |
1st report cal.207 |
Mar 12, 2013 |
referred to insurance |
Senate Bill S4172
2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
- 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
Actions
Votes
2013-S4172 (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd ยงยง6302 & 6303, Ins L
- Versions Introduced in 2015-2016 Legislative Session:
-
S3513
2013-S4172 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4172 TITLE OF BILL: An act to amend the insurance law, in relation to extending authorization for certain exemptions from filing requirements PURPOSE: To make permanent certain exemptions from regulatory requirements necessitating prior approval of rates and forms for large, commercial insureds and special risks and to make changes to certain notice requirements. SUMMARY OF PROVISIONS: Section 1 of the bill amends section 6302 (c)(3) of the insurance law to extend the minimum surplus to policyholder ratio required of medical malpractice insurers, from June 30, 2014 to December 31, 2016. This extension has already been authorized pursuant to chapter 489 of the laws of 2012. Section 2 of the bill amends section 6303 (a)(3) of the insurance law to make permanent the current provision which permits certain qualified insurers to write insurance without the Department of Financial Services' prior approval of rates and forms
2013-S4172 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4172 2013-2014 Regular Sessions I N S E N A T E March 12, 2013 ___________ 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 extending authori- zation for certain exemptions from filing requirements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (c) of section 6302 of the insur- ance law, as amended by chapter 490 of the laws of 2011, is amended to read as follows: (3) until [June thirtieth, two thousand fourteen] DECEMBER THIRTY-FIRST, TWO THOUSAND SIXTEEN, a domestic property/casualty insur- ance company that maintains at all times a surplus to policyholders of at least twice the minimum surplus to policyholders required to be main- tained for the kinds of insurance that it is authorized to write in this state, or an insurer licensed pursuant to article sixty-one of this chapter as a reciprocal insurer that maintains at all times a surplus to policyholders of at least the minimum surplus to policyholders required to be maintained for the kinds of insurance that it is authorized to write in this state, provided that the domestic property/casualty insur- ance company or reciprocal insurer: (A) has total direct premiums comprised of at least ninety percent medical malpractice insurance; (B) assumes reinsurance premiums in an amount that is less than five percent of total direct premiums written; and (C) writes ninety percent of its total direct premiums in this state. S 2. Paragraph 3 of subsection (a) of section 6303 of the insurance law, as amended by chapter 490 of the laws of 2011, is amended to read as follows: (3) [until June thirtieth, two thousand thirteen,] the policy, other than a medical malpractice insurance policy, is issued to a large commercial insured that employs or retains a special risk manager to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09724-01-3
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