Assembly Bill A8125

2015-2016 Legislative Session

Relates to catastrophic or reinsurance coverage issued to certain small groups

download bill text pdf

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Archive: Last Bill Status - Stricken


  • 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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2015-A8125 (ACTIVE) - Details

See other versions of this Bill:
A8134 ,
S5928 ,
Law Section:
Insurance Law
Laws Affected:
Amd §§3231 & 4317, Ins L

2015-A8125 (ACTIVE) - Summary

Relates to catastrophic or reinsurance coverage issued to certain small groups covering between fifty-one and one hundred employees or members of the group.

2015-A8125 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8125

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 9, 2015
                               ___________

Introduced by M. of A. CAHILL -- read once and referred to the Committee
  on Insurance

AN  ACT to amend the insurance law, in relation to catastrophic or rein-
  surance coverage issued to certain small groups

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 1 of subsection (h) of section 3231 of the insur-
ance  law,  as  added  by chapter 501 of the laws of 1992, is amended to
read as follows:
  (1) Notwithstanding any other provision of this chapter,  no  insurer,
subsidiary  of  an  insurer,  or  controlled person of a holding company
system may act as an administrator or claims paying agent, as opposed to
an insurer, on behalf of small groups which, if  they  purchased  insur-
ance,  would  be  subject  to this section. No insurer, subsidiary of an
insurer, or controlled person of a  holding  company  may  provide  stop
loss,  catastrophic  or  reinsurance  coverage to small groups which, if
they purchased insurance, would be subject to this section.    PROVIDED,
HOWEVER,  THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO STOP LOSS,
CATASTROPHIC OR REINSURANCE COVERAGE ISSUED AND IN EFFECT ON  OR  BEFORE
JANUARY  FIRST,  TWO  THOUSAND  FIFTEEN TO SMALL GROUPS COVERING BETWEEN
FIFTY-ONE AND ONE HUNDRED EMPLOYEES OR MEMBERS OF THE GROUP.
  S 2. Paragraph 1 of subsection (e) of section 4317  of  the  insurance
law,  as  amended  by  section 72 of part D of chapter 56 of the laws of
2013, is amended to read as follows:
  (1) Notwithstanding any other provision of this chapter,  no  insurer,
subsidiary  of  an  insurer,  or  controlled person of a holding company
system may act as an administrator or claims paying agent, as opposed to
an insurer, on behalf of small groups which, if  they  purchased  insur-
ance,  would  be  subject  to this section. No insurer, subsidiary of an
insurer, or controlled person of a  holding  company  may  provide  stop
loss,  catastrophic  or  reinsurance  coverage to small groups which, if

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11569-02-5
              

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