senate Bill S5735

2019-2020 Legislative Session

Permits insurers to make available multiple rating programs for commercial insurance within the same company

download bill text pdf

Sponsored By

Current Bill Status - On Floor Calendar


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

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 29, 2020 advanced to third reading
Jan 28, 2020 2nd report cal.
Jan 27, 2020 1st report cal.292
Jan 08, 2020 referred to insurance
May 14, 2019 referred to insurance

Votes

view votes

Jan 27, 2020 - Insurance committee Vote

S5735
9
0
committee
9
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Insurance committee vote details

Insurance Committee Vote: Jan 27, 2020

aye wr (2)

S5735 (ACTIVE) - Details

Law Section:
Insurance Law
Laws Affected:
Amd §2352, Ins L

S5735 (ACTIVE) - Summary

Permits insurers to make available multiple rating programs for commercial insurance within the same company.

S5735 (ACTIVE) - Sponsor Memo

S5735 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5735

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              May 14, 2019
                               ___________

Introduced  by  Sen. BRESLIN -- 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 permitting insurers to
  make available multiple rating programs for commercial insurance with-
  in the same company

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Section 2352 of the insurance law, as added by chapter 457
of the laws of 2011, is amended to read as follows:
  § 2352. Multiple rating programs. (a) Subject to the  superintendent's
prior  approval,  an  insurer may establish more than one rating program
within the same company for policies of insurance that  are  subject  to
section  three  thousand four hundred twenty-five OR SECTION THREE THOU-
SAND FOUR HUNDRED TWENTY-SIX of this chapter; provided that:
  (1) each rating program shall apply only to policies newly written  on
or  after  the  effective  date  of  the rating program but prior to the
effective date of any subsequently  approved  rating  program;  provided
however  if  an  insurer  terminates  a rating program, then the insurer
shall renew the policies that were  subject  to  the  terminated  rating
program in a subsequently approved rating program.
  (2)  the  provisions  of subsection (f) of section three thousand four
hundred twenty-five and subsection (b) of  section  two  thousand  three
hundred  forty-nine  of  this  chapter  shall  be applied to each rating
program TO WHICH THEY ARE APPLICABLE separately.
  (b) The superintendent may promulgate rules and regulations to  imple-
ment the provisions of this section.
  §  2.  This  act shall take effect on the ninetieth day after it shall
have become a law.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11711-01-9

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