|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 20, 2018||committed to rules|
|May 09, 2018||advanced to third reading|
|May 08, 2018||2nd report cal.|
|May 07, 2018||1st report cal.1039|
|Jan 03, 2018||referred to insurance|
|Jun 05, 2017||reported and committed to rules|
|Feb 24, 2017||referred to insurance|
senate Bill S4719
Archive: Last Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4719 (ACTIVE) - Details
- Current Committee:
- Senate Rules
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§2302 & 3201, Ins L
- Versions Introduced in Other Legislative Sessions:
S4719 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4719 TITLE OF BILL : An act to amend the insurance law, in relation to promoting competitive property and casualty insurance markets for business to business insurance transactions PURPOSE : The purpose of the bill is to modernize the regulation of commercial lines insurance by providing additional exemptions from rate and form filing requirements. SUMMARY OF PROVISIONS : Section one entitles this bill as the "Competitive Commercial Insurance Markets Act." Section two of the bill amends Section 2302 of the insurance law to add to the list of lines of business currently exempt from rate and form filing requirements. Thus, insurers offering these business insurance products would not be required to submit their rates or forms to DFS for approval prior to their use. The bill further grants the superintendent the authority to designate additional exemptions if he or she deems it necessary in order to enhance competition or more effectively utilize Department resources.
S4719 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4719 2017-2018 Regular Sessions I N S E N A T E February 24, 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 promoting competitive property and casualty insurance markets for business to business insurance transactions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "Compet- itive Commercial Insurance Markets Act". § 2. Section 2302 of the insurance law, paragraphs 5 and 6 of subsection (a) as amended and paragraph 7 of subsection (a) as added by chapter 614 of the laws of 1997, is amended to read as follows: § 2302. Applicability. (a) This article shall apply to all kinds of insurance written on risks or operations in this state by an insurer authorized to do business in this state except: (1) reinsurance (other than joint reinsurance to the extent stated in section two thousand three hundred seventeen of this article); (2) accident and health insurance; (3) annuities, life insurance, including provisions for non-cancella- ble disability benefits in conjunction therewith; (4) marine insurance (other than PERSONAL inland marine insurance COVERING PROPERTY OF INDIVIDUALS OR HOUSEHOLDS and insurance upon auto- mobiles[, airplanes, seaplanes, dirigibles or other aircraft]); (5) marine protection and indemnity insurance; (6) insurance issued by an assessment cooperative fire insurance company; [and] (7) service contract reimbursement insurance; AND (8) COMMERCIAL LINES SPECIALTY INSURANCE, WHICH INCLUDES: (I) AIRCRAFT LIABILITY AND HULL INSURANCE; (II) SURETY AND FIDELITY INSURANCE; (III) COMMERCIAL INLAND MARINE INSURANCE; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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