Bill Text: NY S04327 | 2013-2014 | General Assembly | Amended
Bill Title: Relates to extending authorization for certain exemptions from filing requirements.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-06-20 - SUBSTITUTED BY A6918A [S04327 Detail]
Download: New_York-2013-S04327-Amended.html
S T A T E O F N E W Y O R K
________________________________________________________________________
4327--A
2013-2014 Regular Sessions
I N S E N A T E
March 21, 2013
___________
Introduced by Sen. SEWARD -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the insurance law, in relation to extending authori-
zation for certain exemptions from filing requirements
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Paragraph 3 of subsection (a) of section 6303 of the
2 insurance law, as amended by chapter 490 of the laws of 2011, is amended
3 to read as follows:
4 (3) until June thirtieth, two thousand [thirteen] FIFTEEN, the policy,
5 other than a medical malpractice insurance policy, is issued to a large
6 commercial insured that employs or retains a special risk manager to
7 assist in the negotiation and purchase of a policy exempted under this
8 article, provided, however, that:
9 (A)(i) the special risk manager is not employed by the insurer issuing
10 the policy or any person in the insurer's holding company system; and
11 (ii) the special risk manager is licensed as an insurance producer in
12 this state pursuant to article twenty-one of this chapter, unless
13 exempted from licensing therein; AND
14 (B) [the insurer shall file with the superintendent a certificate of
15 insurance evidencing the existence and terms of the policy within one
16 business day of binding the insurance coverage; and
17 (C)] a policy form that has not been previously filed with the super-
18 intendent shall be filed with the superintendent for informational
19 purposes within three business days after first delivery of a policy
20 using such form, but no later than sixty calendar days after the incep-
21 tion date of such policy.
22 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08856-06-3
