New York Senate Bill 3633 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on February 11 2019 - 25% progression, died in committee
Action: 2020-01-08 - REFERRED TO INSURANCE
Pending: Senate Insurance Committee
Text: Latest bill text (Introduced) [HTML]

Provides that the minimum reserve requirements and the minimum standard for the valuation of all individual and group life insurance policies and annuity contracts issued on or after January first, two thousand twenty shall be the principle based valuation method established by the superintendent; the superintendent shall utilize the valuation manual adopted by the National Association of Insurance Commissioners unless the superintendent finds that a different method is necessary to protect policyholders.

Provides that the minimum reserve requirements and the minimum standard for the valuation of all individual and group life insurance policies and annuity contracts issued on or after January first, two thousand twenty shall be the principle based valuation method established by the superintendent; the superintendent shall utilize the valuation manual adopted by the National Association of Insurance Commissioners unless the superintendent finds that a different method is necessary to protect policyholders.

Sen. Neil Breslin [D]

Sen. James Seward [R]

Date	Chamber	Action
2020-01-08	Senate	REFERRED TO INSURANCE
2019-02-11	Senate	REFERRED TO INSURANCE

Type	Source
Summary	https://www.nysenate.gov/legislation/bills/2019/S3633
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S03633&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S03633