Assembly Bill A6131

Signed By Governor
2015-2016 Legislative Session

Relates to extending authorization for certain exemptions from filing requirements

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Archive: Last Bill Status - Signed by Governor

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

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Bill Amendments

2015-A6131 - Details

See Senate Version of this Bill:
S3513
Law Section:
Insurance Law
Laws Affected:
Amd §§6302 & 6303, Ins L
Versions Introduced in 2013-2014 Legislative Session:
S4172

2015-A6131 - Summary

Relates to extending authorization for certain exemptions from filing requirements.

2015-A6131 - Bill Text download pdf 

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

                                  6131

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 16, 2015
                               ___________

Introduced  by M. of A. STECK -- read once and referred to the Committee
  on Insurance

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 (c) of section 6302 of the insur-
ance law, as amended by section 9 of part B of chapter 78 of the laws of
2014, is amended to read as follows:
  (3) until December thirty-first, two thousand  [sixteen]  EIGHTEEN,  a
domestic property/casualty insurance company that maintains at all times
a  surplus  to  policyholders  of  at least twice the minimum surplus to
policyholders required to be maintained for the kinds of insurance  that
it is authorized to write in this state, or an insurer licensed pursuant
to  article sixty-one of this chapter as a reciprocal insurer that main-
tains at all times a surplus to policyholders of at  least  the  minimum
surplus  to  policyholders  required  to  be maintained for the kinds of
insurance that it is authorized to write in this  state,  provided  that
the  domestic property/casualty insurance company or reciprocal insurer:
(A) has total direct premiums  comprised  of  at  least  ninety  percent
medical  malpractice  insurance;  (B) assumes reinsurance premiums in an
amount that is less than five percent of total direct premiums  written;
and  (C)  writes  ninety  percent  of  its total direct premiums in this
state.
  S 2. Paragraph 3 of subsection (a) of section 6303  of  the  insurance
law, as amended by chapter 75 of the laws of 2013, is amended to read as
follows:
  (3)  [until  June  thirtieth, two thousand 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07120-01-5

2015-A6131A (ACTIVE) - Details

See Senate Version of this Bill:
S3513
Law Section:
Insurance Law
Laws Affected:
Amd §§6302 & 6303, Ins L
Versions Introduced in 2013-2014 Legislative Session:
S4172

2015-A6131A (ACTIVE) - Summary

Relates to extending authorization for certain exemptions from filing requirements.

2015-A6131A (ACTIVE) - Bill Text download pdf 

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

                                 6131--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 16, 2015
                               ___________

Introduced  by M. of A. STECK -- read once and referred 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 (c) of section 6302 of the insur-
ance law, as amended by section 9 of part B of chapter 78 of the laws of
2014, is amended to read as follows:
  (3)  until  December  thirty-first, two thousand [sixteen] EIGHTEEN, a
domestic property/casualty insurance company that maintains at all times
a surplus to policyholders of at least  twice  the  minimum  surplus  to
policyholders  required to be maintained for the kinds of insurance that
it is authorized to write in this state, or an insurer licensed pursuant
to article sixty-one of this chapter as a reciprocal insurer that  main-
tains  at  all  times a surplus to policyholders of at least the minimum
surplus to policyholders required to be  maintained  for  the  kinds  of
insurance  that  it  is authorized to write in this state, provided that
the domestic property/casualty insurance company or reciprocal  insurer:
(A)  has  total  direct  premiums  comprised  of at least ninety percent
medical malpractice insurance; (B) assumes reinsurance  premiums  in  an
amount  that is less than five percent of total direct premiums written;
and (C) writes ninety percent of  its  total  direct  premiums  in  this
state.
  S 2. The opening paragraph of paragraph 3 of subsection (a) of section
6303 of the insurance law, as amended by chapter 75 of the laws of 2013,
is amended to read as follows:
  until  June  thirtieth,  two  thousand [fifteen] NINETEEN, 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:
  S 3. This act shall take effect immediately.

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