NY A09265

Authorizes the Superintendent of Insurance to impose penalties on subcontractors of insurers or health care organizations when the subcontractor is reasonably shown to be responsible for failing to meet prompt payment standards for health care claims

Permits doubling of penalties when an insurer, organization, or corporation demonstrates a pattern of failing to adhere to prompt claim settlement standards

Maintains existing requirements that insurers pay the full claim amount plus interest (the greater of the corporate tax rate or 12% annually) when violating prompt payment standards

Takes effect 90 days after becoming law and applies to all health care claims submitted after that date