NY A07504

Expands the New York State Insurance Fund's authority to enter agreements with out-of-state insurers to cover workers' compensation obligations for policyholders working outside New York.

Permits the State Insurance Fund to receive premiums and pay losses, loss adjustment expenses, and administrative fees related to out-of-state workers' compensation coverage under such agreements.

Restricts claims services under out-of-state agreements to exclude New York workers' compensation claims.

Requires policyholders to be eligible based on either: (i) New York premiums exceeding total out-of-state premiums, or (ii) New York payroll exceeding total out-of-state payroll in the prior policy period.

Makes policyholders seeking out-of-state coverage subject to the State Insurance Fund's underwriting criteria as established by rules of the commissioners.