senate Bill S7746A

2017-2018 Legislative Session

Relates to extending authorization for certain exemptions from filing requirements

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate & Assembly


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
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

S7746 - Details

See Assembly Version of this Bill:
A10634
Law Section:
Insurance Law
Laws Affected:
Amd §6302, Ins L

S7746 - Summary

Extends authorization for certain exemptions from filing requirements.

S7746 - Sponsor Memo

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.
  S 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

S7746A (ACTIVE) - Details

See Assembly Version of this Bill:
A10634
Law Section:
Insurance Law
Laws Affected:
Amd §6302, Ins L

S7746A (ACTIVE) - Summary

Extends authorization for certain exemptions from filing requirements.

S7746A (ACTIVE) - Sponsor Memo

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.
  S 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:
  S 3. This act shall take effect immediately.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. 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.