NY S08432

Directs the superintendent of insurance to establish and implement a captive insurance program for commuter vans, pre-arranged for-hire vehicles, and accessible vehicles that transport passengers for hire.

Requires the superintendent to license captive insurance companies, establish enrollment standards and eligibility mechanisms, and monitor performance in providing affordable coverage.

Defines "commuter van" as vehicles with 9-24 passenger capacity (or greater if established by superintendent rule) and "pre-arranged for-hire vehicle" to include small school buses, charter buses, black cars, and livery vehicles regardless of local terminology.

Defines "accessible vehicle" to include ambulettes and paratransit vehicles equipped with wheelchair lifts/ramps, assistive listening systems, braille signage, service animal space, and audible warning devices for hybrid-electric vehicles.

Establishes minimum insurance requirements of $500,000 combined single limits liability, $50,000 basic personal injury protection, and $25,000/$50,000 uninsured motorist coverage, with no-fault claims using workers' compensation medical treatment guidelines.