senate Bill S5811

Signed By Governor
2011-2012 Legislative Session

Exempts large commercial insureds from certain rate and policy form approval requirements

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Archive: Last Bill Status - Signed by Governor


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2011 signed chap.490
Aug 05, 2011 delivered to governor
Jun 22, 2011 returned to senate
passed assembly
ordered to third reading rules cal.588
substituted for a8464
Jun 21, 2011 referred to insurance
delivered to assembly
passed senate
ordered to third reading cal.1445
Jun 17, 2011 referred to rules

Votes

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S5811 - Details

See Assembly Version of this Bill:
A8464
Law Section:
Insurance Law
Laws Affected:
Amd §§6301, 6302, 6303, 2307, 2320, 2321 & 3110, Ins L

S5811 - Summary

Exempts large commercial insureds from certain rate and policy form approval requirements.

S5811 - Sponsor Memo

S5811 - Bill Text download pdf

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

                                  5811

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              June 17, 2011
                               ___________

Introduced by Sen. SEWARD -- (at request of the New York State Insurance
  Department)  -- read twice and ordered printed, and when printed to be
  committed to the Committee on Rules

AN ACT to amend the insurance law, in  relation  to  exempting  insurers
  from  certain  rate and policy form approval requirements with respect
  to policies issued to large commercial insureds and from certain poli-
  cy form filing and  approval  requirements  with  respect  to  certain
  inland marine insurance policies

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

  Section 1. Subsections (a) and (b) of section 6301  of  the  insurance
law are amended to read as follows:
  (a)  Notwithstanding any provision of this chapter, the superintendent
shall, pursuant to regulations promulgated by [him] THE  SUPERINTENDENT,
permit exemption from filing requirements only with respect to rates and
policy  forms,  where  applicable,  for  any  of  the kinds of insurance
[authorized to be written in this state] SPECIFIED IN SUBSECTION (B)  OF
THIS SECTION.
  (b)  [No]  AN  exemption  pursuant  to  subsection (a) hereof shall be
permitted in relation to the kinds of insurance set forth in  [paragraph
one,  two,  three,  fifteen,  eighteen  or twenty-three] PARAGRAPHS FOUR
THROUGH FOURTEEN, SIXTEEN, SEVENTEEN, NINETEEN THROUGH TWENTY-TWO, TWEN-
TY-SEVEN AND TWENTY-NINE, of subsection (a) of section one thousand  one
hundred  thirteen  of  this  chapter[,  or to] AND SUCH INSURANCE AS THE
SUPERINTENDENT DEEMS TO BE SUBSTANTIALLY SIMILAR TO ONE OF THE FOREGOING
KINDS, EXCEPT NO EXEMPTION  MAY  BE  PERMITTED  FOR:  (1)  coverage  for
personal  lines to natural persons for non-business purposes; (2) INSUR-
ANCE SPECIFIED IN SUBSECTION (B) OF SECTION TWO THOUSAND  THREE  HUNDRED
FIVE  OF  THIS CHAPTER, EXCEPT MEDICAL MALPRACTICE INSURANCE, OR SECTION
TWO THOUSAND THREE HUNDRED TWENTY-EIGHT OF THIS CHAPTER;  (3)  INSURANCE
REQUIRED  TO  SATISFY  ANY  FINANCIAL RESPONSIBILITY REQUIREMENT OF THIS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13191-01-1

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