S T A T E O F N E W Y O R K
________________________________________________________________________
1466
2023-2024 Regular Sessions
I N A S S E M B L Y
January 17, 2023
___________
Introduced by M. of A. BLANKENBUSH, BRABENEC, DeSTEFANO, HAWLEY, McDO-
NOUGH, MILLER -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to group
property/casualty insurance
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3435 of the insurance law is amended by adding a
new subsection (e) to read as follows:
(E) NEITHER THE PROVISIONS OF THIS SECTION NOR ANY OTHER PROVISIONS OF
THIS CHAPTER SHALL SERVE TO PREVENT THE ISSUANCE OF A CERTIFICATE OF
GROUP PROPERTY/CASUALTY OR LIABILITY INSURANCE ISSUED TO A RESIDENT OF
THIS STATE WHEN SUCH CERTIFICATE IS ISSUED UNDER A MASTER POLICY
PROCURED BY AN EMPLOYER BASED IN ANOTHER STATE, PROVIDED (I) THE POLICY
IS AN APPROVED POLICY ISSUED BY AN INSURER LICENSED IN SUCH STATE, (II)
THE POLICY HAS BEEN APPROVED FOR SALE IN SUCH STATE, AND (III) PROVIDED
THE CERTIFICATE IS ISSUED WITHOUT COST TO THE NEW YORK RESIDENT. ANY
SUCH CERTIFICATE ISSUED TO A NEW YORK RESIDENT SHALL STATE THAT THE
INSURANCE PROVIDED THEREUNDER IS NOT REGULATED BY THE STATE OF NEW YORK
AND NOT SUBJECT TO CONSUMER PROTECTIONS OTHERWISE AFFORDED BY THIS CHAP-
TER.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05180-01-3