Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 07, 2022 |
referred to insurance |
Senate Bill S8255
2021-2022 Legislative Session
Sponsored By
(D, WF) 21st 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
co-Sponsors
(D) 14th Senate District
(D, WF) 31st Senate District
(D) 20th Senate District
(D) 19th Senate District
2021-S8255 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10072
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Add §7013, Ins L
- Versions Introduced in 2023-2024 Legislative Session:
-
S7950
2021-S8255 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8255 SPONSOR: PARKER TITLE OF BILL: An act to amend the insurance law, in relation to establishing a captive insurance program for commuter vans PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is for the Superintendent of the New York State Department of Financial Services to create and implement a captive insurance program for commuter vans in the State of New York. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Amends the state's insurance law by adding a new section 7013, which create a captive insurance program for commuter vans. Section 2: Contains the bill's effective date clause, which provides that the act shall take effect on the ninetieth day after it shall have become a law.
2021-S8255 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8255 I N S E N A T E February 7, 2022 ___________ Introduced by Sen. PARKER -- 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 establishing a captive insurance program for commuter vans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new section 7013 to read as follows: § 7013. CAPTIVE INSURANCE PROGRAM FOR COMMUTER VANS. (A) THE SUPER- INTENDENT SHALL IMPLEMENT A CAPTIVE INSURANCE PROGRAM FOR COMMUTER VANS THAT ARE ENGAGED IN THE BUSINESS OF CARRYING OR TRANSPORTING PASSENGERS FOR HIRE. THE PROGRAM SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO: (1) IDENTIFYING AND LICENSING A CAPTIVE INSURANCE COMPANY OR COMPANIES TO PROVIDE NECESSARY INSURANCE COVERAGE TO COMMUTER VANS; (2) STANDARDS FOR ENROLLMENT OF ELIGIBLE COMMUTER VANS, INCLUDING MECHANISMS FOR DETERMINING ELIGIBILITY; AND (3) STANDARDS FOR MONITORING THE PERFORMANCE OF SUCH CAPTIVE INSURANCE COMPANY OR COMPANIES IN PROVIDING AFFORDABLE INSURANCE COVERAGE TO COMMUTER VANS PARTICIPATING IN THE PROGRAM. (B) FOR THE PURPOSES OF THIS SECTION, THE TERM "COMMUTER VAN" SHALL HAVE THE SAME MEANING AS SUCH TERM IS DEFINED IN SECTION 19-502 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK. § 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. LBD14566-01-2
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