senate Bill S4327A

Signed By Governor
2013-2014 Legislative Session

Relates to extending authorization for certain exemptions from filing requirements

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A6918 -


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

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2013 signed chap.75
Jun 26, 2013 delivered to governor
Jun 20, 2013 returned to assembly
passed senate
3rd reading cal.1482
substituted for s4327a
Jun 20, 2013 substituted by a6918a
ordered to third reading cal.1482
committee discharged and committed to rules
Jun 14, 2013 print number 4327a
amend (t) and recommit to insurance
Mar 21, 2013 referred to insurance

S4327 - Details

See Assembly Version of this Bill:
A6918A
Law Section:
Insurance Law
Laws Affected:
Amd §6303, Ins L

S4327 - Summary

Relates to extending authorization for certain exemptions from filing requirements.

S4327 - Sponsor Memo

S4327 - Bill Text download pdf

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

                                  4327

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

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 certain exemptions
  from rate and form filing requirements for large commercial insureds

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

  Section 1. Paragraph 3 of subsection (a) of section 6303 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 [thirteen] FIFTEEN, 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
assist in the negotiation and purchase of a policy exempted  under  this
article, provided, however, that:
  (A)(i) the special risk manager is not employed by the insurer issuing
the policy or any person in the insurer's holding company system; and
  (ii)  the special risk manager is licensed as an insurance producer in
this state pursuant  to  article  twenty-one  of  this  chapter,  unless
exempted from licensing therein;
  (B)  the  insurer  shall file with the superintendent a certificate of
insurance evidencing the existence and terms of the  policy  within  one
business day of binding the insurance coverage; and
  (C)  a  policy form that has not been previously filed with the super-
intendent shall be  filed  with  the  superintendent  for  informational
purposes  within  three  business  days after first delivery of a policy
using such form, but no later than sixty calendar days after the  incep-
tion date of such policy.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08856-02-3

S4327A (ACTIVE) - Details

See Assembly Version of this Bill:
A6918A
Law Section:
Insurance Law
Laws Affected:
Amd §6303, Ins L

S4327A (ACTIVE) - Summary

Relates to extending authorization for certain exemptions from filing requirements.

S4327A (ACTIVE) - Sponsor Memo

S4327A (ACTIVE) - Bill Text download pdf

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

                                 4327--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Insurance  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

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 (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] FIFTEEN, 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
assist in the negotiation and purchase of a policy exempted  under  this
article, provided, however, that:
  (A)(i) the special risk manager is not employed by the insurer issuing
the policy or any person in the insurer's holding company system; and
  (ii)  the special risk manager is licensed as an insurance producer in
this state pursuant  to  article  twenty-one  of  this  chapter,  unless
exempted from licensing therein; AND
  (B)  [the  insurer shall file with the superintendent a certificate of
insurance evidencing the existence and terms of the  policy  within  one
business day of binding the insurance coverage; and
  (C)]  a policy form that has not been previously filed with the super-
intendent shall be  filed  with  the  superintendent  for  informational
purposes  within  three  business  days after first delivery of a policy
using such form, but no later than sixty calendar days after the  incep-
tion date of such policy.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08856-06-3

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