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Senate Bill S8997

2017-2018 Legislative Session

Relates to exemptions for medical malpractice insurance rates for academic and research facilities of the state university of New York

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Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee

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2017-S8997 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Insurance Law
Laws Affected:
Amd §§1325 & 2343, Ins L

2017-S8997 (ACTIVE) - Summary

Relates to exemptions for medical malpractice insurance rates for academic and research facilities of the state university of New York.

2017-S8997 (ACTIVE) - Sponsor Memo

2017-S8997 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8997
 
                             I N  S E N A T E
 
                               June 12, 2018
                                ___________
 
 Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the insurance law, in relation to exemptions for medical
   malpractice insurance rates for academic and  research  facilities  of
   the state university of New York
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1325 of the insurance law, as added by section 1 of
 part X of chapter 57 of the laws of 2015, is amended to read as follows:
   § 1325. Exemption. For the purposes  of  exempting  certain  insurance
 companies  from  the  provisions  of  section one thousand three hundred
 twenty-four of this article, the superintendent  shall  exempt,  through
 December  thirty-first, two thousand nineteen, those stock and non-stock
 insurance companies to  which  subparagraph  (B)  of  paragraph  two  of
 subsection  (b) of such section applies. PROVIDED, HOWEVER, FOR PURPOSES
 OF EXEMPTING CERTAIN INSURANCE COMPANIES FROM THE PROVISIONS OF  SECTION
 ONE  THOUSAND THREE HUNDRED TWENTY-FOUR OF THIS ARTICLE, THE SUPERINTEN-
 DENT SHALL EXEMPT, THROUGH DECEMBER THIRTY-FIRST, TWO  THOUSAND  TWENTY-
 ONE,  THOSE NON-STOCK INSURANCE COMPANIES WHICH PRIMARILY PROVIDE COVER-
 AGE TO PERSONS PROVIDING MEDICAL CARE, TEACHING OR ENGAGING IN  RESEARCH
 AT  THE  STATE UNIVERSITY OF NEW YORK TO WHICH SUBPARAGRAPH (B) OF PARA-
 GRAPH TWO OF SUBSECTION (B) OF SUCH SECTION APPLIES.
   § 2. Subsection (c) of section 2343 of the insurance law,  as  amended
 by  section 2 of part X of chapter 57 of the laws of 2015, is amended to
 read as follows:
   (c) Notwithstanding any other provision of this chapter,  no  applica-
 tion for an order of rehabilitation or liquidation of a domestic insurer
 whose  primary liability arises from the business of medical malpractice
 insurance, as that term is defined in subsection  (b)  of  section  five
 thousand  five hundred one of this chapter, shall be made on the grounds
 specified in subsection (a)  or  (c)  of  section  seven  thousand  four
 hundred  two of this chapter at any time prior to December thirty-first,
 two thousand nineteen. IN ADDITION, NO APPLICATION FOR AN ORDER OF REHA-
 BILITATION OR LIQUIDATION OF A DOMESTIC INSURER WHOSE PRIMARY  LIABILITY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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