assembly Bill A8361

2017-2018 Legislative Session

Relates to the authority of assessment corporations to write insurance

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to insurance
Jun 12, 2017 referred to insurance

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Multi-Sponsors

A8361 (ACTIVE) - Details

See Senate Version of this Bill:
S4010
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §6605, Ins L
Versions Introduced in 2019-2020 Legislative Session:
A7110, S4081

A8361 (ACTIVE) - Summary

Grants authority to assessment corporations to write specified kinds of standalone liability insurance.

A8361 (ACTIVE) - Bill Text download pdf


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

                                  8361

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                              June 12, 2017
                               ___________

Introduced  by M. of A. SKOUFIS -- read once and referred to the Commit-
  tee on Insurance

AN ACT to amend the insurance law, in relation to  the  organization  of
  assessment corporations

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

  Section 1. The opening paragraph of subsection (a) of section 6605  of
the  insurance  law,  as  added  by  chapter 137 of the laws of 1986, is
amended to read as follows:
  An assessment corporation may be organized and licensed in the  manner
prescribed in section six thousand six hundred three of this article and
may do, in addition to the kind of insurance specified in paragraph four
of  subsection  (a) of section one thousand one hundred thirteen of this
chapter, any one or more of the kinds of insurance  specified  in  para-
graphs five, six, seven and eight of such subsection [solely in conjunc-
tion  with fire insurance written under the same policy and covering the
same premises] and insurance against loss or damage to  property  caused
by aircraft or vehicles in compliance with the following prerequisites:
  §  2.  Subsection (b) of section 6605 of the insurance law, as amended
by chapter 379 of the laws of 2001, is amended to read as follows:
  (b) Any licensed assessment corporation may amend its charter  and  be
licensed  to  do  the  kinds  of insurance specified in paragraphs nine,
thirteen, fourteen and fifteen (except workers' compensation  insurance)
of  subsection  (a) of section one thousand one hundred thirteen of this
chapter [solely in conjunction with fire  insurance  written  under  the
same  policy  and  covering the same premises] and may be licensed to do
the kinds of insurance specified in paragraphs twelve, nineteen (exclud-
ing aircraft physical damage insurance) and twenty (inland marine  only)
of  such  subsection.  AN  ASSESSMENT  CORPORATION LICENSED TO WRITE THE
KINDS OF INSURANCE SPECIFIED IN  PARAGRAPHS  THIRTEEN  AND  FOURTEEN  OF
SUBSECTION  (A)  OF  SECTION  ONE  THOUSAND ONE HUNDRED THIRTEEN OF THIS

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