NY A10636

Expands exemption from rate and policy form filing requirements to include policies issued to large commercial insureds that employ or retain a risk manager, in addition to existing exemptions for unusual risks and high-premium business.

Defines "large commercial insured" as entities generating over $25,000 in annual commercial risk insurance premiums and meeting one of seven financial thresholds, including net worth requirements ranging from $1.5 million to $7.5 million, employee counts of 50+ or 100+ with affiliates, or municipalities with 50,000+ population.

Defines "risk manager" as a professional holding CPCU, ARM, or CRM designation with five years of risk analysis experience, licensed as an insurance producer, and independent from the insurer.

Increases the annual special license fee for insurers seeking exemption from $1,000 to $2,000 and adjusts surplus requirements to reference Article Thirteen standards rather than minimum statutory requirements.

Requires all exempt policies to contain notice that rates and forms are not subject to state filing requirements, and permits the superintendent to reimpose filing requirements where deemed necessary to protect policyholders.