NY A10078

Allows the State Insurance Fund discretion to issue a new workers' compensation policy to employers with unpaid balances on cancelled policies, provided conditions are met.

Requires employers seeking new policies to complete any required payroll audits, meet underwriting standards based on prior payment and policy history, and demonstrate ability to pay the new policy deposit and first installment of the prior balance before issuance.

Mandates employers pay off the overdue balance from the cancelled policy within twelve months through installments determined by the State Insurance Fund, concurrent with payments on the new policy.

Subjects new policies to cancellation if the employer defaults on payments for either the new policy or the prior balance owed, rendering the employer ineligible for additional policies until all amounts from prior cancellations are paid.

Extends the same discretionary payment plan terms to employers owned or controlled by individuals who owned, controlled, or held officer positions at other employers with cancelled policies for non-payment.