senate Bill S3563

2021-2022 Legislative Session

Relates to extending the exemption from filing requirements only with respect to rates and policy forms to out of state businesses

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate

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

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view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 09, 2021 referred to insurance
delivered to assembly
passed senate
Mar 03, 2021 advanced to third reading
Mar 02, 2021 2nd report cal.
Mar 01, 2021 1st report cal.479
Jan 30, 2021 referred to insurance


S3563 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §6303, Ins L
Versions Introduced in Other Legislative Sessions:
2017-2018: S4654
2019-2020: S3736

S3563 (ACTIVE) - Summary

Relates to extending the exemption from filing requirements only with respect to rates and policy forms to businesses underwritten and transacted from an office outside this state.

S3563 (ACTIVE) - Sponsor Memo

S3563 (ACTIVE) - Bill Text download pdf

                     S T A T E   O F   N E W   Y O R K
                        2021-2022 Regular Sessions
                             I N  S E N A T E
                             January 30, 2021
 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 exemption from  filing
   requirements only with respect to rates and policy forms
   Section 1. Subsection (a) of section 6303 of  the  insurance  law,  as
 amended  by  chapter  490 of the laws of 2011, paragraph 3 as amended by
 chapter 75 of the laws of 2013 and the opening paragraph of paragraph  3
 as  amended  by  chapter  438 of the laws of 2018, is amended to read as
   (a) The exemption that may be granted pursuant to this  article  shall
 apply  only  if  [the  business  is  underwritten and transacted from an
 office within this state; and]:
   (1) the risk, as defined in regulations of the superintendent, produc-
 es a minimum annual premium in excess of one hundred thousand dollars or
 such higher amount as the superintendent may prescribe by regulation;
   (2) the coverage is for a risk or class of risks which is of an unusu-
 al nature, a high loss hazard, or difficult to place, pursuant to a list
 promulgated or amended by the superintendent; or
   (3) until June thirtieth, two thousand twenty-three, the policy, 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:
   (A)(i) the special risk manager is not employed by the insurer issuing
 the policy or any person in the insurer's holding company system; and
   (ii)  the special risk manager is licensed as an insurance producer in
 this state pursuant  to  article  twenty-one  of  this  chapter,  unless
 exempted from licensing therein; and
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.


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