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NY A07291
Bill
Status
6/30/2023
Primary Sponsor
Phillip Steck
Click for details
AI Summary
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Extends exemption deadline for domestic property/casualty insurance companies focused on medical malpractice insurance from June 30, 2023 to June 30, 2025
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Extends exemption deadline for large commercial insureds that employ a special risk manager from June 30, 2023 to June 30, 2027
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Maintains existing requirements for qualifying insurers: surplus at least twice the minimum required, at least 90 percent of premiums from medical malpractice insurance, and at least 90 percent of direct premiums written in New York State
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Takes effect immediately upon enactment
Legislative Description
Extends certain exemptions from regulatory requirements necessitating prior approval of rates and forms for large, commercial insureds and special risks and to make changes to certain notice requirements.
Last Action
signed chap.158
6/30/2023