Assembly Bill A2366

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

                                  2366

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2009
                               ___________

Introduced  by M. of A. REILICH -- read once and referred to the Commit-
  tee on Insurance

AN  ACT  to  amend   the   insurance   law,   in   relation   to   group
  property/casualty insurance

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

  Section 1. Section 3435 of the insurance law is amended  by  adding  a
new subsection (e) to read as follows:
  (E) NEITHER THE PROVISIONS OF THIS SECTION NOR ANY OTHER PROVISIONS OF
THIS  CHAPTER  SHALL  SERVE  TO PREVENT THE ISSUANCE OF A CERTIFICATE OF
GROUP PROPERTY/CASUALTY OR LIABILITY INSURANCE ISSUED TO A  RESIDENT  OF
THIS  STATE  WHEN  SUCH  CERTIFICATE  IS  ISSUED  UNDER  A MASTER POLICY
PROCURED BY AN EMPLOYER BASED IN ANOTHER STATE, PROVIDED (I) THE  POLICY
IS  AN APPROVED POLICY ISSUED BY AN INSURER LICENSED IN SUCH STATE, (II)
THE POLICY HAS BEEN APPROVED FOR SALE IN SUCH STATE, AND (III)  PROVIDED
THE  CERTIFICATE  IS  ISSUED  WITHOUT COST TO THE NEW YORK RESIDENT. ANY
SUCH CERTIFICATE ISSUED TO A NEW YORK  RESIDENT  SHALL  STATE  THAT  THE
INSURANCE  PROVIDED THEREUNDER IS NOT REGULATED BY THE STATE OF NEW YORK
AND NOT SUBJECT TO CONSUMER PROTECTIONS OTHERWISE AFFORDED BY THIS CHAP-
TER.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04405-01-9