NY S09096

Allows the State Insurance Fund to issue new workers' compensation policies to employers with unpaid balances on cancelled policies, provided they meet specified conditions.

Requires employers seeking new policies to have completed any required payroll audits, demonstrate ability to pay the deposit premium on the new policy plus the first installment of the prior balance, and meet the fund's underwriting standards.

Mandates that employers must pay off overdue balances from prior cancelled policies within twelve months from the date the new policy is issued, through installment payments determined by the State Insurance Fund.

Subjects new policies to cancellation for non-payment, and prohibits employers from obtaining additional policies until all amounts due from prior cancelled policies are paid in full.

Extends the same discretionary payment plan terms to employers owned or controlled by individuals who previously owned cancelled policies with unpaid balances, as well as former officers of such employers.