Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 30, 2015 |
signed chap.24 |
Jun 29, 2015 |
delivered to governor |
Jun 15, 2015 |
returned to assembly passed senate substituted for s3513a |
Jun 15, 2015 |
substituted by a6131a |
May 18, 2015 |
amended on third reading 3513a |
Apr 23, 2015 |
advanced to third reading |
Apr 22, 2015 |
2nd report cal. |
Apr 21, 2015 |
1st report cal.323 |
Feb 11, 2015 |
referred to insurance |
Senate Bill S3513A
Signed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status Via A6131 - 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
Bill Amendments
2015-S3513 - Details
2015-S3513 - Sponsor Memo
BILL NUMBER:S3513 REVISED MEMO 04/20/2015 TITLE OF BILL: An act to amend the insurance law, in relation to extending authorization for certain exemptions from filing requirements PURPOSE: To make permanent certain exemptions from regulatory requirements necessitating prior approval of rates and forms for large, commercial insureds and special risks and to make changes to certain notice requirements. SUMMARY OF PROVISIONS: Section 1 of the bill amends section 6302 (c)(3) of the insurance law to extend the minimum surplus to policyholder ratio required of medical malpractice insurers, from December 31, 2016 to December 31, 2018. Section 2 of the bill amends section 6303 (a)(3) of the insurance law to make permanent the current provision which permits certain qualified insurers to write insurance without the Department of Financial Services' prior approval of rates and forms. This section further extends the required amount of time for an
2015-S3513 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3513 2015-2016 Regular Sessions I N S E N A T E February 11, 2015 ___________ Introduced by Sen. SEWARD -- 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 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 9 of part B of chapter 78 of the laws of 2014, is amended to read as follows: (3) until December thirty-first, two thousand [sixteen] EIGHTEEN, 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. S 2. Paragraph 3 of subsection (a) of section 6303 of the insurance law, as amended by chapter 75 of the laws of 2013, is amended to read as follows: (3) [until June thirtieth, two thousand fifteen,] the policy, other than a medical malpractice insurance policy, is issued to a large commercial insured that employs or retains a special risk manager to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07120-01-5
2015-S3513A (ACTIVE) - Details
2015-S3513A (ACTIVE) - Sponsor Memo
BILL NUMBER:S3513A TITLE OF BILL: An act to amend the insurance law, in relation to extending authorization for certain exemptions from filing requirements PURPOSE: To extend certain exemptions from regulatory requirements necessitating prior approval of rates and forms for large, commercial insureds and special risks and to make changes to certain notice requirements. SUMMARY OF PROVISIONS: Section 1 of the bill amends section 6302 (c)(3) of the insurance law to extend the minimum surplus to policyholder ratio required of medical malpractice insurers, from December 31, 2016 to December 31, 2018. Section 2 of the bill amends section 6303 (a)(3) of the insurance law to extend the current provision which permits certain qualified insurers to write insurance without the Department of Financial Services' prior approval of rates and forms, from June 30, 2015 to June 30, 2019.
2015-S3513A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3513--A Cal. No. 323 2015-2016 Regular Sessions I N S E N A T E February 11, 2015 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading 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 9 of part B of chapter 78 of the laws of 2014, is amended to read as follows: (3) until December thirty-first, two thousand [sixteen] EIGHTEEN, 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. S 2. The opening paragraph of paragraph 3 of subsection (a) of section 6303 of the insurance law, as amended by chapter 75 of the laws of 2013, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07120-02-5
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