assembly Bill A10634

2017-2018 Legislative Session

Relates to extending authorization for certain exemptions from filing requirements

download bill text pdf

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Current Bill Status Via S7746 - Passed Senate & Assembly


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

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Actions

view actions (10)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 13, 2018 returned to senate
passed assembly
ordered to third reading rules cal.125
substituted for a10634
Jun 13, 2018 substituted by s7746a
Jun 12, 2018 ordered to third reading rules cal.125
rules report cal.125
Jun 11, 2018 reported
Jun 06, 2018 reported referred to rules
May 09, 2018 referred to insurance

A10634 - Details

See Senate Version of this Bill:
S7746A
Law Section:
Insurance Law
Laws Affected:
Amd §6302, Ins L

A10634 - Summary

Extends authorization for certain exemptions from filing requirements.

A10634 - Bill Text download pdf

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

                                  10634

                          I N  A S S E M B L Y

                               May 9, 2018
                               ___________

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 chapter 24 of the laws of 2015,  is  amended  to
read as follows:
  (3)  until  December  thirty-first,  two thousand [eighteen] TWENTY, 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 24 of the laws of 2015,
is amended to read as follows:
  until  June thirtieth, two thousand [nineteen] TWENTY-THREE, the poli-
cy, 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14305-03-8

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