Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 30, 2023 |
signed chap.158 |
Jun 26, 2023 |
delivered to governor |
May 31, 2023 |
returned to assembly passed senate 3rd reading cal.1191 substituted for s7103 referred to insurance delivered to senate passed assembly |
May 30, 2023 |
ordered to third reading rules cal.408 rules report cal.408 reported |
May 24, 2023 |
reported referred to rules |
May 17, 2023 |
referred to insurance |
Assembly Bill A7291
Signed By Governor2023-2024 Legislative Session
Sponsored By
STECK
Current Bill Status - Signed by Governor
- 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
Actions
Votes
2023-A7291 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7103
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§6302 & 6303, Ins L
2023-A7291 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7291 2023-2024 Regular Sessions I N A S S E M B L Y May 17, 2023 ___________ Introduced by M. of A. STECK -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to extending authori- zation for certain exemptions from filing requirements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (c) of section 6302 of the insur- ance law, as amended by section 1 of item TTT of subpart B of part XXX of chapter 58 of the laws of 2020, is amended to read as follows: (3) until June thirtieth, two thousand [twenty-three] TWENTY-FIVE, a domestic property/casualty insurance company that maintains at all times a surplus to policyholders of at least twice the minimum surplus to policyholders required to be maintained for the kinds of insurance that it is authorized to write in this state, or an insurer licensed pursuant to article sixty-one of this chapter as a reciprocal insurer that main- tains at all times a surplus to policyholders of at least the minimum surplus to policyholders required to be maintained for the kinds of insurance that it is authorized to write in this state, provided that the domestic property/casualty insurance company or reciprocal insurer: (A) has total direct premiums comprised of at least ninety percent medical malpractice insurance; (B) assumes reinsurance premiums in an amount that is less than five percent of total direct premiums written; and (C) writes ninety percent of its total direct premiums in this state. § 2. The opening paragraph of paragraph 3 of subsection (a) of section 6303 of the insurance law, as amended by chapter 438 of the laws of 2018, is amended to read as follows: until June thirtieth, two thousand [twenty-three] TWENTY-SEVEN, the policy, other than a medical malpractice insurance policy, is issued to a large commercial insured that employs or retains a special risk manag- er to assist in the negotiation and purchase of a policy exempted under this article, provided, however, that: § 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.