|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 03, 2018||referred to insurance|
|Jan 04, 2017||referred to insurance|
senate Bill S422
Current Bill Status - In Senate Insurance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S422 - Details
S422 - Sponsor Memo
BILL NUMBER: S422 TITLE OF BILL : An act to amend the insurance law, in relation to excess line coverage for certain medical malpractice insurance PURPOSE : To repeal the requirement that excess line brokers must obtain a declination from the medical malpractice insurance pool before the broker can place primary malpractice insurance in the excess line market SUMMARY OF PROVISIONS : Section 1 amends subsection (e) of section 2118 of the insurance law. Section 2 is the effective date. JUSTIFICATION : New York State continues to suffer in numerous ways from a malfunctioning medical malpractice insurance marketplace that many describe as a crisis. There are only four insurers which assume a significant volume of medical malpractice business, insuring over 80%
S422 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 422 2017-2018 Regular Sessions I N S E N A T E (PREFILED) January 4, 2017 ___________ Introduced by Sen. SEWARD -- 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 excess line coverage for certain medical malpractice insurance THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (e) of section 2118 of the insurance law, as added by chapter 684 of the laws of 1993, subparagraph (A) of paragraph 2 as amended by chapter 587 of the laws of 2002, subparagraph (C) of paragraph 2 as amended by chapter 498 of the laws of 1996, is amended to read as follows: (e)(1) Except as provided in paragraph two of this subsection, no licensee shall be required to obtain a declination from an association established pursuant to article fifty-four or fifty-five of this chap- ter, or to apply for insurance through a plan established pursuant to article fifty-three of this chapter, as a condition of procuring insur- ance pursuant to this section. (2) (A) Unless the licensee obtains a declination from the appropriate association, or from an insurer pursuant to an application for coverage through a plan, no diligent effort shall be considered to have been made if the insurance is available from the plan or association in connection with the placement of: (i) a policy of non-commercial motor vehicle liability insurance; OR (ii) [medical malpractice insurance for a general hospital, as defined in subdivision ten of section two thousand eight hundred one of the public health law, a physician or dentist; or (iii)] insurance which by law must be provided by an authorized insur- er. (B) In connection with the placement of any other kind of insurance, a declination from the appropriate association, or from an insurer pursu- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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