Senate Bill S9597

2025-2026 Legislative Session

Makes provisions relating to the New York compensation insurance rating board's authorization to make filings with the department of financial services permanent

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Current Bill Status - In Senate Committee Insurance Committee

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

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 26, 2026	referred to insurance

2025-S9597 (ACTIVE) - Details

See Assembly Version of this Bill:: A10153
Current Committee:: Senate Insurance
Law Section:: Insurance Law
Laws Affected:: Amd §2313 & 2305, Ins L; amd §16, Chap 11 of 2008

2025-S9597 (ACTIVE) - Summary

Makes provisions relating to the New York compensation insurance rating board's authorization to make filings with the department of financial services permanent.

2025-S9597 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9597

SPONSOR: BAILEY
 
TITLE OF BILL:

An act to amend the insurance law, in relation to making provisions
relating to the New York compensation insurance rating board's authori-
zation to make filings with the department of financial services perma-
nent; and to amend chapter 11 of the laws of 2008 amending the  workers'
compensation law, the insurance law, the volunteer ambulance workers'
benefit law and the volunteer firefighters' benefit law relating to
rates for workers' compensation insurance and setting forth conditions
for workers' compensation rate service organization, in relation to the
effectiveness thereof

 
PURPOSE OR GENERAL IDEA OF BILL:

Makes provisions relating to the New York compensation insurance rating
board's authorization to make filings with the department of financial
services permanent.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 amends section 2313 of the insurance law.

Section 2 amends subsection (e) of section 2305 of the insurance law.

Section 3 amends section 16 of chapter 11 of the laws of 2008.

Section 4 is the effective date.

 
JUSTIFICATION:

The New York Compensation Insurance Rating Board ("Rating Board") is a
nonpartisan and nonprofit organization that serves as the official
licensed statistical agent and rate service organization for workers'
compensation insurance in the State of New York. The Rating Board has
been serving in this capacity since the creation of the workers' compen-
sation insurance product in 1914.

To do this work, the Rating Board collects the loss, premium and payroll
data on all workers' compensation policies in the state and analyzes
that data to develop and file pricing values, programs, and rating plans
and manuals with the New York State Department of Financial Services.
Further, the Rating Board maintains the New York classification system
and calculates experience modification factors for employers in the
state. The Rating Board also publishes research reports and studies to
make the marketplace more transparent and serves as a resource to regu-
lators, public policymakers, and stakeholders on marketplace trends.

While the Rating Board has been serving as the official licensed statis-
tical agent and rate service organization for workers compensation
insurance in New York State since 1914, beginning in 2007, the Rating
Board's ability to make filings with the New York State Department of
Financial Services has been subject to several 5-year statutory sunsets.
Most recently, in 2018, the Rating Board was afforded a 10-year statuto-
ry sunset that expires in June 2028.


As the Rating Board nears its 10-year statutory sunset, it is evident
that the sunset poses challenges to the Rating Board's ability to
attract talent in the marketplace and its staffing program, generally.
Such operational uncertainty compromises the Rating Board's ability to
maintain an adequate workforce, which is needed to satisfy its statutory
and marketplace function. To put the Rating Board in the best position
to satisfy its statutory mandate and promote marketplace stability, the
statutory sunset on the Rating Board's ability to making filings with
the New York State Department of Financial Services should be removed
from Article 23 of the Insurance Law.

 
PRIOR LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

TBD

 
EFFECTIVE DATE:
This act shall take effect immediately.

2025-S9597 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9597
 
                             I N  S E N A T E
 
                              March 26, 2026
                                ___________
 
 Introduced  by  Sen.  BAILEY -- 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  making  provisions
   relating to the New York compensation insurance rating board's author-
   ization  to  make  filings  with  the department of financial services
   permanent; and to amend chapter 11 of the laws of  2008  amending  the
   workers'  compensation law, the insurance law, the volunteer ambulance
   workers' benefit law  and  the  volunteer  firefighters'  benefit  law
   relating  to  rates  for  workers'  compensation insurance and setting
   forth conditions for workers' compensation rate service  organization,
   in relation to the effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (s) of section 2313 of  the  insurance  law,  as
 amended  by  chapter  237  of  the  laws  of 2012, is amended to read as
 follows:
   (s) Notwithstanding any other  provision  of  this  article,  no  rate
 service  organization may file rates for workers' compensation insurance
 after February first, two thousand eight, but a rate  service  organiza-
 tion  may  file  loss  costs or other statistical information, including
 rating plans[, until June second, two thousand eighteen].  Notwithstand-
 ing  subsection  (j) of this section, any such rate service organization
 shall nonetheless be required to be licensed pursuant to this section.
   § 2. Subsection (e) of section 2305 of the insurance law,  as  amended
 by section 2 of subpart F of part NNN of chapter 59 of the laws of 2017,
 is amended to read as follows:
   (e)  The superintendent: (1) by regulation may, in lieu of the waiting
 period set forth in subsection (b) of  this  section,  require  workers'
 compensation  insurance  rate filings to be specifically approved before
 they become effective; and (2) shall hold a public  hearing  if  a  rate
 service  organization makes a loss cost filing for workers' compensation
 that is an increase of five percent or more over the approved loss costs
 from the prior year. [Until June second, two thousand twenty-eight, a] A
 rate service organization for workers' compensation shall  make  a  loss
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD14720-01-6
 S. 9597                             2
 
 cost  filing every year on or before June first, or such earlier date as
 is set by the superintendent.
   §  3.  Section 16 of chapter 11 of the laws of 2008 amending the work-
 ers' compensation law, the insurance law, the volunteer ambulance  work-
 ers'  benefit  law and the volunteer firefighters' benefit law, relating
 to rates for workers' compensation insurance and  setting  forth  condi-
 tions  for a workers' compensation rate service organization, as amended
 by section 1 of subpart F of part NNN of chapter 59 of the laws of 2017,
 is amended to read as follows:
   § 16. This act shall take effect February 1, 2008; provided  that  the
 amendments  to  paragraph  2  of  subsection  (a) of section 2316 of the
 insurance law made by section eleven of this act shall  take  effect  on
 the  same  date  that  section 68 of chapter 6 of the laws of 2007 takes
 effect; provided further that the amendments  to  section  2316  of  the
 insurance  law  made  by section eleven of this act shall not affect the
 expiration of such section pursuant to section 2342 of the insurance law
 and shall be  deemed  expired  therewith[;  and  provided  further  that
 section  ten  of  this  act  shall expire and be deemed repealed June 2,
 2028].
   § 4. This act shall take effect immediately.

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Senate Bill S9597

Sponsored By

Current Bill Status - In Senate Committee Insurance Committee

Actions

2025-S9597 (ACTIVE) - Details

2025-S9597 (ACTIVE) - Summary

2025-S9597 (ACTIVE) - Sponsor Memo

2025-S9597 (ACTIVE) - Bill Text download pdf

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Sponsored By

Jamaal T. Bailey

Current Bill Status - In Senate Committee Insurance Committee

Actions

2025-S9597 (ACTIVE) - Details

2025-S9597 (ACTIVE) - Summary

2025-S9597 (ACTIVE) - Sponsor Memo

2025-S9597 (ACTIVE) - Bill Text download pdf

Comments