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NY S06978
Bill
Status
Passed
7/18/2012
Primary Sponsor
James Seward
Click for details
AI Summary
- Extends the deadline for workers' compensation rate service organizations to file loss costs and statistical information from June 2, 2013 to June 2, 2018
- Requires the superintendent to hold a public hearing if a rate service organization files a loss cost increase of 7 percent or more over the prior year's approved costs
- Modifies the governing body requirements for rate service organizations, specifying that four non-insurer members serve two-year terms and must be appointed within 120 days of expiration
- Maintains the prohibition on rate service organizations filing rates for workers' compensation insurance after February 1, 2008, while allowing continued filing of loss costs and statistical information
- Amends the effective date in Chapter 11 of the Laws of 2008 to extend related provisions through June 2, 2018
Legislative Description
Extends the effectiveness of certain provisions of law relating to workers' compensation rate service organizations from June 2, 2013 until June 2, 2018.
Last Action
SIGNED CHAP.237
7/18/2012
Committee Referrals
Insurance5/31/2012
Insurance4/18/2012
Full Bill Text
No bill text available