|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 14, 2014||referred to insurance|
senate Bill S7381
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7381 - Details
S7381 - Sponsor Memo
BILL NUMBER:S7381 TITLE OF BILL: An act to amend the insurance law, in relation to directing the superintendent of financial services to establish a sepa- rate classification for liability insurance for businesses engaged in the installation of wind or solar electric generating systems PURPOSE OR GENERAL IDEA OF BILL: This bill directs the superintendent of insurance to establish a sepa- rate classification for liability insurance for installers of wind or solar electric generating systems. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends the insurance law by adding a new section, 2346-b, to address the reduction in the rates of liability insurance for installers of wind or solar electric generating systems. This section goes on to define the terms "Solar electric generating system", "Wind electric generating system", and requires that the superintendent shall establish a separate classification for the determination of rates and premiums for liability, motor vehicle and workers' compensation provided to any person or entity engaged in the business of installing solar and/or wind electric generating systems. The superintendent shall provide a reduction in the rates of liability,
S7381 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7381 I N S E N A T E May 14, 2014 ___________ Introduced by Sen. BOYLE -- 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 directing the super- intendent of financial services to establish a separate classification for liability insurance for businesses engaged in the installation of wind or solar electric generating systems 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 2346-b to read as follows: S 2346-B. REDUCTION IN RATES OF LIABILITY INSURANCE FOR INSTALLERS OF WIND OR SOLAR ELECTRIC GENERATING SYSTEMS. (A) FOR THE PURPOSES OF THIS SECTION: (1) "SOLAR ELECTRIC GENERATING SYSTEM" MEANS A PHOTOVOLTAIC SYSTEM THAT IS MANUFACTURED, INSTALLED AND OPERATED IN ACCORDANCE WITH APPLICA- BLE GOVERNMENT AND INDUSTRY STANDARDS, AND THAT IS CONNECTED TO THE ELECTRIC SYSTEM AND OPERATED IN CONJUNCTION WITH AN ELECTRIC CORPO- RATION'S TRANSMISSION AND DISTRIBUTION FACILITIES. (2) "WIND ELECTRIC GENERATING SYSTEM" MEANS ONE OR MORE WIND GENERA- TORS THAT ARE MANUFACTURED, INSTALLED AND OPERATED IN ACCORDANCE WITH APPLICABLE GOVERNMENT AND INDUSTRY STANDARDS, AND THAT ARE CONNECTED TO THE ELECTRIC SYSTEM AND OPERATED IN PARALLEL WITH AN ELECTRIC CORPO- RATION'S TRANSMISSION AND DISTRIBUTION FACILITIES. (B) THE SUPERINTENDENT SHALL ESTABLISH A SEPARATE CLASSIFICATION FOR THE DETERMINATION OF RATES AND PREMIUMS FOR LIABILITY, MOTOR VEHICLE AND WORKERS' COMPENSATION PROVIDED TO ANY PERSON OR ENTITY ENGAGED IN THE BUSINESS OF INSTALLING SOLAR AND/OR WIND ELECTRIC GENERATING SYSTEMS. (C) THE SUPERINTENDENT SHALL PROVIDE FOR A REDUCTION IN THE RATES OF LIABILITY, MOTOR VEHICLE AND WORKERS' COMPENSATION INSURANCE PREMIUMS APPLICABLE TO SOLAR AND/OR WIND ELECTRICITY GENERATING SYSTEM INSTAL- LERS, WHEN SUCH INSTALLERS HAVE FILED NO OR MINIMAL INSURANCE CLAIMS, AND ADHERE TO SOUND JOBSITE SAFETY PRACTICES. THE REDUCTIONS PROVIDED FOR SHALL BE PROPORTIONALLY RELATED TO THE ACTUARIALLY CALCULABLE DECREASE IN LOSSES IN THE AFOREMENTIONED CIRCUMSTANCES. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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