Assembly Bill A97A

Signed By Governor
2017-2018 Legislative Session

Relates to activities of alien insurance brokers with respect to property/casualty insurance

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Archive: Last Bill Status Via S3959 - 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

2017-A97 - Details

See Senate Version of this Bill:
S3959
Law Section:
Insurance Law
Laws Affected:
Amd §2117, Ins L
Versions Introduced in 2015-2016 Legislative Session:
A10640, S7039

2017-A97 - Summary

Permits activities of alien insurance brokers with respect to property/casualty insurance.

2017-A97 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    97
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 4, 2017
                                ___________
 
 Introduced by M. of A. CAHILL -- read once and referred to the Committee
   on Insurance
 
 AN  ACT  to amend the insurance law, in relation to permitting insurance
   brokers to engage in certain activities with respect to  property  and
   casualty insurance in New York

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (k) of section 2117 of  the  insurance  law,  as
 added by chapter 64 of the laws of 2015, is amended to read as follows:
   (k)(1)  Notwithstanding  subsection (a) of this section, any insurance
 broker licensed under subparagraph (A) of paragraph  one  of  subsection
 (b)  of  section  two  thousand  one  hundred  four of this article with
 respect to life insurance or annuities, [or] subparagraph (A) or (B)  of
 paragraph one of subsection (b) of such section with respect to accident
 and health insurance, OR SUBPARAGRAPH (B) OF THIS PARAGRAPH WITH RESPECT
 TO PROPERTY/CASUALTY INSURANCE may engage in the activities specified in
 paragraph  two  of  this subsection with respect to an alien insurer not
 authorized to do an insurance business in this state, provided that:
   (A) the activities relate to a policy or contract of group life, group
 annuity, [or] group accident and health insurance, OR  PROPERTY/CASUALTY
 INSURANCE  where the policyholder or proposed policyholder is a multina-
 tional entity resident outside the United States, the policy or contract
 covers the multinational entity's LIABILITIES, PROPERTIES, employees and
 their dependents, and the LIABILITIES, PROPERTIES AND  employees  reside
 outside  of  the  United  States, except that the policy or contract may
 provide coverage to employees who  are  temporarily  inside  the  United
 States;
   (B)  the policy or contract shall not be underwritten or negotiated in
 this state or issued or delivered in the United States;

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

2017-A97A (ACTIVE) - Details

See Senate Version of this Bill:
S3959
Law Section:
Insurance Law
Laws Affected:
Amd §2117, Ins L
Versions Introduced in 2015-2016 Legislative Session:
A10640, S7039

2017-A97A (ACTIVE) - Summary

Permits activities of alien insurance brokers with respect to property/casualty insurance.

2017-A97A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   97--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 4, 2017
                                ___________
 
 Introduced by M. of A. CAHILL -- 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  permitting  insurance
   brokers  to  engage in certain activities with respect to property and
   casualty insurance in New York
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subsection  (k)  of section 2117 of the insurance law, as
 added by chapter 64 of the laws of 2015, is amended to read as follows:
   (k)(1) Notwithstanding subsection (a) of this section,  any  insurance
 broker  licensed  under  subparagraph (A) of paragraph one of subsection
 (b) of section two thousand  one  hundred  four  of  this  article  with
 respect  to life insurance or annuities, [or] subparagraph (A) or (B) of
 paragraph one of subsection (b) of such section with respect to accident
 and health insurance, OR SUBPARAGRAPH (B) OF THIS PARAGRAPH WITH RESPECT
 TO PROPERTY/CASUALTY INSURANCE may engage in the activities specified in
 paragraph two of this subsection with respect to an  alien  insurer  not
 authorized to do an insurance business in this state, provided that:
   (A) the activities relate to a policy or contract of group life, group
 annuity,  [or] group accident and health insurance, OR PROPERTY/CASUALTY
 INSURANCE where the policyholder or proposed policyholder is a  multina-
 tional entity resident outside the United States, the policy or contract
 covers the multinational entity's LIABILITIES, PROPERTIES, employees and
 their  dependents,  and  the  LIABILITIES  ARISE,  OR THE PROPERTIES AND
 employees reside outside of the United States, except that the policy or
 contract may provide coverage to employees who  are  temporarily  inside
 the United States;
   (B)  the policy or contract shall not be underwritten or negotiated in
 this state or issued or delivered in the United States;
   (C) the alien insurer is authorized to transact the kinds of insurance
 business in the jurisdictions where the policies or  contracts  will  be

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