NY S07220

Permits exemptions from filing requirements for rates and policy forms for certain commercial insurance types, excluding personal lines, medical malpractice (except physicians/surgeons), auto insurance, and group policies.

Creates definition of "large commercial insured" as entities with annual commercial insurance premiums exceeding $25,000 AND meeting one of seven financial/operational thresholds, including net worth of $7.5 million, gross assets over $10 million, annual revenues exceeding $15 million, 50+ employees, or municipality with 50,000+ population.

Requires large commercial insureds to employ or retain a licensed risk manager (holding CPCU, ARM, or CRM designation with 5+ years experience) to negotiate and purchase exempted policies.

Increases annual special license fee for exemptions from $1,000 to $2,000 and replaces surplus requirements with "Authorized Control Level" standard from Article 13.

Adjusts financial thresholds every five years based on Consumer Price Index changes and allows superintendent to reimpose filing requirements when necessary to protect policyholders.