senate Bill S8127

2021-2022 Legislative Session

Simplifies the excess line insurance placement affidavit 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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 09, 2022 returned to senate
passed assembly
ordered to third reading cal.622
substituted for a9088
Mar 23, 2022 referred to insurance
delivered to assembly
passed senate
Feb 16, 2022 advanced to third reading
Feb 15, 2022 2nd report cal.
Feb 14, 2022 1st report cal.490
Jan 25, 2022 referred to insurance

S8127 (ACTIVE) - Details

See Assembly Version of this Bill:
A9088
Law Section:
Insurance Law
Laws Affected:
Amd §2118, Ins L

S8127 (ACTIVE) - Summary

Simplifies the excess line insurance placement affidavit requirements.

S8127 (ACTIVE) - Sponsor Memo

S8127 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8127
 
                             I N  S E N A T E
 
                             January 25, 2022
                                ___________
 
 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 simplifying the excess
   line insurance placement affidavit requirements
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Subparagraph  (C)  of  paragraph  3  of subsection (b) of
 section 2118 of the insurance law, as amended by chapter 684 of the laws
 of 1993, is amended to read as follows:
   (C) Every licensee, or affirming broker, in connection with the place-
 ment of each risk pursuant to this section NOT OTHERWISE EXEMPT FROM THE
 DILIGENT  EFFORT REQUIREMENT, shall record  on  the  affidavit  required
 pursuant  to  subparagraph (A) of this paragraph the NAME  AND  NATIONAL
 ASSOCIATION  OF INSURANCE COMMISSIONERS CODE OF EACH AUTHORIZED  INSURER
 DECLINING  A  RISK  AND information relied upon that formed the basis of
 such licensee's or affirming broker's reason to believe that the author-
 ized insurer might consider writing the type of  coverage  or  class  of
 insurance  involved.  NO ADDITIONAL DILIGENT EFFORT INFORMATION SHALL BE
 REPORTED ON THE AFFIDAVIT.
   § 2. This act shall take effect immediately, provided,  however,  that
 the  amendments  to subparagraph (C) of paragraph 3 of subsection (b) of
 section 2118 of the insurance law made by section one of this act  shall
 not  affect  the  expiration  of  such subsection and shall be deemed to
 expire therewith.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14285-01-2


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