Assembly Bill A8660

2021-2022 Legislative Session

Establishes the joint insurance fund

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2021-A8660 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add Art 81 §8101, Ins L
Versions Introduced in 2023-2024 Legislative Session:
A4624

2021-A8660 (ACTIVE) - Summary

Provides that the governing body of municipal corporation, may by resolution agree to join together with any municipal corporation or corporations to establish a joint insurance fund for the purpose of insuring against liability, property damage, and workers' compensation, insuring against loss or theft of moneys or securities, providing blanket bond coverage of certain county or municipal officers and employees for faithful performance and discharge of their duties under the public officers' law, insuring against bodily injury and property damage claims arising from environmental impairment liability and legal representation therefor to the extent that such coverages; makes related provisions.

2021-A8660 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8660
 
                           I N  A S S E M B L Y
 
                             January 10, 2022
                                ___________
 
 Introduced by M. of A. LAWLER -- read once and referred to the Committee
   on Insurance
 
 AN  ACT  to  amend  the insurance law, in relation to creating the joint
   insurance fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The insurance law is amended by adding a new article 81 to
 read as follows:
                                ARTICLE 81
                           JOINT INSURANCE FUND
 SECTION 8101. JOINT INSURANCE FUND.
   § 8101. JOINT INSURANCE FUND. (A)  THE  GOVERNING  BODY  OF  MUNICIPAL
 CORPORATION, MAY BY RESOLUTION AGREE TO JOIN TOGETHER WITH ANY MUNICIPAL
 CORPORATION  OR CORPORATIONS TO ESTABLISH A JOINT INSURANCE FUND FOR THE
 PURPOSE OF INSURING AGAINST LIABILITY,  PROPERTY  DAMAGE,  AND  WORKERS'
 COMPENSATION,  INSURING  AGAINST  LOSS OR THEFT OF MONEYS OR SECURITIES,
 PROVIDING BLANKET BOND COVERAGE OF CERTAIN COUNTY OR MUNICIPAL  OFFICERS
 AND  EMPLOYEES  FOR  FAITHFUL  PERFORMANCE AND DISCHARGE OF THEIR DUTIES
 UNDER THE PUBLIC OFFICERS' LAW, INSURING AGAINST BODILY INJURY AND PROP-
 ERTY DAMAGE CLAIMS ARISING FROM ENVIRONMENTAL IMPAIRMENT  LIABILITY  AND
 LEGAL  REPRESENTATION  THEREFOR  TO  THE  EXTENT THAT SUCH COVERAGES, AS
 APPROVED BY THE SUPERINTENDENT, ARE PROVIDED BY THE PURCHASE  OF  INSUR-
 ANCE  AND  NO  RISK  IS  RETAINED BY THE FUND, PROVIDING CONTRIBUTORY OR
 NON-CONTRIBUTORY GROUP HEALTH INSURANCE OR GROUP TERM LIFE INSURANCE, OR
 BOTH, TO EMPLOYEES OR THEIR DEPENDENTS OR BOTH, THROUGH SELF  INSURANCE,
 THE  PURCHASE OF COMMERCIAL INSURANCE OR REINSURANCE, OR ANY COMBINATION
 THEREOF, AND INSURING AGAINST ANY LOSS FROM  LIABILITY  ASSOCIATED  WITH
 SICK LEAVE PAYMENT FOR SERVICE CONNECTED DISABILITY, AND MAY APPROPRIATE
 SUCH  MONEYS  AS  ARE REQUIRED THEREFOR. THE MAXIMUM RISK TO BE RETAINED
 FOR GROUP TERM LIFE INSURANCE BY A JOINT INSURANCE FUND  ON  A  SELF-IN-
 SURED  BASIS SHALL NOT EXCEED A FACE AMOUNT OF FIVE THOUSAND DOLLARS PER
 COVERED EMPLOYEE OR DEPENDENT OR MORE IF APPROVED BY THE SUPERINTENDENT.
   (B) THE GOVERNING BODY OF ANY MUNICIPAL CORPORATION, MAY BY RESOLUTION
 AGREE TO JOIN TOGETHER WITH ANY OTHER MUNICIPAL CORPORATION TO ESTABLISH
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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