NY A06981

Expands redomestication authority to allow both foreign companies to transfer their domicile to New York and domestic companies to transfer their domicile out of New York, previously limited to foreign companies only.

Requires companies transferring to New York to file superintendent approval from their current state, comply with New York licensing requirements, and demonstrate compliance with New York insurance law.

Allows companies transferring from New York to do so upon superintendent approval unless the transfer is determined not to be in the interest of New York policyholders.

Permits companies transferring from New York to continue using previously approved policy forms with endorsements as needed to reflect the redomestication.

Requires the superintendent to maintain confidentiality of redomestication reports and information not otherwise required in publicly available filings.