S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6860
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 14, 2025
                                ___________
 
 Introduced  by  M.  of  A.  BLANKENBUSH -- 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 ANY 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-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10818-01-5
 A. 6860                             2
              

 
 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
 A  JOINT  INSURANCE FUND FOR THE SOLE PURPOSE OF INSURING AGAINST BODILY
 INJURY AND PROPERTY DAMAGE CLAIMS ARISING FROM ENVIRONMENTAL  IMPAIRMENT
 LIABILITY AND LEGAL REPRESENTATION THEREFOR TO THE EXTENT AND FOR COVER-
 AGES APPROVED BY THE SUPERINTENDENT.
   § 2. This act shall take effect on the one hundred twentieth day after
 it  shall have become a law. Effective immediately, the addition, amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation of this act on its effective date are authorized to be  made  and
 completed on or before such effective date.