|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 08, 2014||referred to labor|
senate Bill S7268
Archive: Last Bill Status - In Senate Committee Labor Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7268 (ACTIVE) - Details
S7268 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7268 TITLE OF BILL: An act to amend the workers' compensation law, in relation to providing conditional renewal notices to policyholders PURPOSE: The purpose of this bill is to require that insurance carriers provide conditional renewal notices to workers' compensation policyholders when the premium will increase more than ten percent or where there is an increased deductible or a change in classification that may result in a reduction of dividends. SUMMARY OF PROVISIONS: This legislation amends subdivision 5 of section 54 of the workers compensation law, as amended by section 23 of part GG of chapter 57 of the laws of 2013. JUSTIFICATION: Under current Insurance Law Section 3426(e), commercial policyholders are entitled to receive a conditional renewal notice 60 to 120 days in advance of the expiration date of their policy if the premium for their renewal policy will increase by more than ten percent, or if the renewal policy will have a change of limits, change in type of coverage, reduction of coverage, or an increased deductible. The law requiring such notices protects the customer by affording the opportunity to look for alternative coverage before their current policy expires. Unfortunately, the rules for workers' compensation policies are not
S7268 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7268 I N S E N A T E May 8, 2014 ___________ Introduced by Sen. ROBACH -- read twice and ordered printed, and when printed to be committed to the Committee on Labor AN ACT to amend the workers' compensation law, in relation to providing conditional renewal notices to policyholders THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 5 of section 54 of the workers' compensation law, as amended by section 23 of part GG of chapter 57 of the laws of 2013, is amended to read as follows: 5. Cancellation, CONDITIONAL RENEWAL and termination of insurance contracts. No contract of insurance issued by an insurance carrier against liability arising under this chapter shall be cancelled within the time limited in such contract for its expiration unless notice is given as required by this section. When cancellation is due to non-pay- ment of premiums and assessments, such cancellation shall not be effec- tive until at least ten days after a notice of cancellation of such contract, on a date specified in such notice, shall be filed in the office of the chair and also served on the employer. When cancellation is due to any reason other than non-payment of premiums and assessments, such cancellation shall not be effective until at least thirty days after a notice of cancellation of such contract, on a date specified in such notice, shall be filed in the office of the chair and also served on the employer; provided, however, in either case, that if the employer has secured insurance with another insurance carrier which becomes effective prior to the expiration of the time stated in such notice, the cancellation shall be effective as of the date of such other coverage. No insurer shall refuse to renew any policy insuring against liability arising under this chapter unless at least thirty days prior to its expiration notice of intention not to renew has been filed in the office of the chair and also served on the employer. Such notice shall be served on the employer by delivering it to him, her or it or by sending it by mail, by certified or registered letter, return receipt requested, addressed to the employer at his, her or its last known place of business; provided that, if the employer be a part- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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