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NY A10013

Bill

Status

Introduced

6/6/2014

Primary Sponsor

Kevin Cahill

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Expands the definition of "domestic insurer" under risk-based capital requirements to include health maintenance organizations domiciled in New York and certified or operating in at least one other state, with filing deadlines of April 15 instead of March 15.

  • Extends prior approval requirements for motor vehicle insurance rates from June 30, 2014 to June 30, 2017, maintaining the superintendent's authority over rate changes.

  • Adds 2017 as an additional reporting date for the superintendent to collect and analyze statistical data on new insureds, non-renewed insureds, and business written by insurers in each rating territory.

  • Extends exemptions on certain property/casualty insurance policies from June 30, 2014 to June 30, 2017 and allows domestic property/casualty insurers to write in free trade zones until December 31, 2016.

  • Repeals Section 2341 of the insurance law relating to the consumers advisory council and business advisory council.

Legislative Description

Relates to authorization to set certain insurance rates for risk-based capital and property/casualty and insurance and health maintenance organizations.

Last Action

substituted by s7764

6/19/2014

Committee Referrals

Rules6/18/2014
Insurance6/6/2014

Full Bill Text

No bill text available