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NY A05997
Bill
Status
3/30/2023
Primary Sponsor
Vivian Cook
Click for details
AI Summary
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Amends Insurance Law Section 1117 to require authorized insurers issuing long-term care benefit plans to maintain records listing the number of policies cancelled each year
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Insurers must indicate in records which cancellations were due to or occurred within thirty days after a policy premium increase
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Applies to all authorized insurers providing long-term care benefits under Insurance Law Section 1117
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Takes effect immediately upon enactment
Legislative Description
Requires insurers which issue contracts providing long term care benefits to maintain records of policies cancelled during each year and requires that such records indicate which policies were cancelled due to, or within thirty days after, an increase in policy premiums.
Last Action
referred to insurance
1/3/2024