Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 21, 2018 |
signed chap.438 |
Dec 12, 2018 |
delivered to governor |
Jun 13, 2018 |
returned to senate passed assembly ordered to third reading rules cal.125 substituted for a10634 |
Jun 04, 2018 |
referred to insurance delivered to assembly passed senate |
May 09, 2018 |
amended on third reading 7746a |
Mar 28, 2018 |
advanced to third reading |
Mar 27, 2018 |
2nd report cal. |
Mar 26, 2018 |
1st report cal.731 |
Feb 15, 2018 |
referred to insurance |
Senate Bill S7746
Signed By Governor2017-2018 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status - 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
Actions
Votes
Bill Amendments
2017-S7746 - Details
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §6302, Ins L
2017-S7746 - Sponsor Memo
BILL NUMBER: S7746 SPONSOR: SEWARD TITLE OF BILL: An act to amend the insurance law, in relation to extending authori- zation for certain exemptions from filing requirements PURPOSE: This bill would extend the authority for a domestic medical malpractice insurer to secure a license to use the Free Trade Zone (FTZ). SUMMARY OF PROVISIONS: Section 1 of the bill amends section 6302 (c)(3) of the insurance law to extend the minimum surplus to policyholder ration required of medical malpractice insurers, from December 31, 2018 to December 31, 2020. EXISTING LAW:
2017-S7746 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7746 I N S E N A T E February 15, 2018 ___________ 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 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. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14305-01-8
2017-S7746A (ACTIVE) - Details
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §6302, Ins L
2017-S7746A (ACTIVE) - Sponsor Memo
BILL NUMBER: S7746A SPONSOR: SEWARD TITLE OF BILL: An act to amend the insurance law, in relation to extending authorization for certain exemptions from filing requirements PURPOSE: This bill would extend the authority for a domestic medical malpractice insurer to secure a license to use the Free Trade Zone (FTZ). SUMMARY OF PROVISIONS: Section 1 of the bill amends section 6302 (c)(3) of the insurance law to extend the minimum surplus to policyholder ration required of medical malpractice insurers, from December 31, 2018 to December 31, 2020. Section 2 of the bill amends section 6303 (a)(3) of the insurance law to extend the current provision which permits certain qualified insurers to write insurance without the Department of Financial Services' prior approval of rates and forms, from June 30, 2019 to June 30, 2023.
2017-S7746A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7746--A Cal. No. 731 I N S E N A T E February 15, 2018 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading 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. § 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:
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.