Bill Text: NY S00654 | 2017-2018 | General Assembly | Introduced

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Bill Title: Directs superintendent of financial services to establish a separate classification for setting rates for liability insurance for installers of wind or solar electric generating systems; provides for a premium reduction to those installers which have no or minimal insurance claims.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO INSURANCE [S00654 Detail]

Download: New_York-2017-S00654-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                           654
                               2017-2018 Regular Sessions
                    IN SENATE
                                     January 4, 2017
                                       ___________
        Introduced  by  Sen.  BOYLE  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Insurance
        AN ACT to amend the insurance law, in relation to directing  the  super-
          intendent of financial services to establish a separate classification
          for  liability insurance for businesses engaged in the installation of
          wind or solar electric generating systems
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. The insurance law is amended by adding a new section 2346-b
     2  to read as follows:
     3    §  2346-b. Reduction in rates of liability insurance for installers of
     4  wind or solar electric generating systems. (a) For the purposes of  this
     5  section:
     6    (1)  "Solar  electric  generating  system" means a photovoltaic system
     7  that is manufactured, installed and operated in accordance with applica-
     8  ble government and industry standards, and  that  is  connected  to  the
     9  electric  system  and  operated  in  conjunction with an electric corpo-
    10  ration's transmission and distribution facilities.
    11    (2) "Wind electric generating system" means one or more  wind  genera-
    12  tors  that  are  manufactured, installed and operated in accordance with
    13  applicable government and industry standards, and that are connected  to
    14  the  electric  system  and  operated in parallel with an electric corpo-
    15  ration's transmission and distribution facilities.
    16    (b) The superintendent shall establish a separate  classification  for
    17  the determination of rates and premiums for liability, motor vehicle and
    18  workers'  compensation  provided  to any person or entity engaged in the
    19  business of installing solar and/or wind electric generating systems.
    20    (c) The superintendent shall provide for a reduction in the  rates  of
    21  liability,  motor  vehicle  and workers' compensation insurance premiums
    22  applicable to solar and/or wind electricity  generating  system  instal-
    23  lers,  when  such  installers have filed no or minimal insurance claims,
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03858-01-7
        S. 654                              2
     1  and adhere to sound jobsite safety practices.  The  reductions  provided
     2  for  shall  be  proportionally  related  to  the  actuarially calculable
     3  decrease in losses in the aforementioned circumstances.
     4    §  2. This act shall take effect on the first of January next succeed-
     5  ing the date on which it shall have become a law, and shall apply to all
     6  policies issued, renewed, modified, altered or amended on or after  such
     7  date.