NY S09136

Extends the exemption deadline from June 30, 2025 to June 30, 2029 for domestic property/casualty insurance companies and reciprocal insurers that meet certain surplus requirements.

Applies to companies maintaining at least twice the minimum required surplus (for property/casualty insurers) or the minimum required surplus (for reciprocal insurers).

Requires exempt insurers to have at least 90 percent of total direct premiums comprised of medical malpractice insurance and write 90 percent of total direct premiums in New York State.

Removes the requirement that assumed reinsurance premiums be less than 5 percent of total direct premiums written.