Senate Bill S1377

2019-2020 Legislative Session

Relates to schedule rating plans reflecting individual risk characteristics of an employer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

  • 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

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2019-S1377 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §2347, Ins L
Versions Introduced in 2017-2018 Legislative Session:
S5338

2019-S1377 (ACTIVE) - Summary

Relates to schedule rating plans reflecting individual risk characteristics of an employer.

2019-S1377 (ACTIVE) - Sponsor Memo

2019-S1377 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1377
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 14, 2019
                                ___________
 
 Introduced  by  Sen.  FUNKE  -- 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 schedule rating  plans
   reflecting individual risk characteristics of an employer
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 2347 of the insurance law is amended  by  adding  a
 new subsection (f) to read as follows:
   (F)  SUBJECT TO APPROVAL BY THE DEPARTMENT, AN INSURER MAY MAKE AVAIL-
 ABLE A SCHEDULE RATING PLAN REFLECTING INDIVIDUAL  RISK  CHARACTERISTICS
 OF  AN  EMPLOYER.  THE MAXIMUM RATING MODIFICATION PURSUANT TO SUCH PLAN
 OFFERED IN ACCORDANCE WITH THIS SUBDIVISION SHALL BE LIMITED TO PLUS  OR
 MINUS TWENTY-FIVE PERCENT.  ANY SUCH RATING MODIFICATION IS EXCLUSIVE OF
 CREDITS  OR  DEBITS  AUTHORIZED UNDER SECTION ONE HUNDRED THIRTY-FOUR OF
 THE WORKERS' COMPENSATION LAW. THE RATING MODIFICATION IS FURTHER EXCLU-
 SIVE OF ALL PRICING MECHANISMS, INCLUDING EXPERIENCE AND MERIT RATING. A
 SCHEDULE RATING PLAN MADE AVAILABLE PURSUANT TO  THIS  SUBSECTION  SHALL
 NOT  BE  INCLUDED IN ANY GENERAL RATE CHANGE MADE PURSUANT TO SUBSECTION
 (A) OF THIS SECTION.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07174-01-9

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