Bill Text: NY S08997 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to exemptions for medical malpractice insurance rates for academic and research facilities of the state university of New York.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-06-12 - REFERRED TO RULES [S08997 Detail]

Download: New_York-2017-S08997-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          8997
                    IN SENATE
                                      June 12, 2018
                                       ___________
        Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT to amend the insurance law, in relation to exemptions for medical
          malpractice insurance rates for academic and  research  facilities  of
          the state university of New York
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 1325 of the insurance law, as added by section 1 of
     2  part X of chapter 57 of the laws of 2015, is amended to read as follows:
     3    § 1325. Exemption. For the purposes  of  exempting  certain  insurance
     4  companies  from  the  provisions  of  section one thousand three hundred
     5  twenty-four of this article, the superintendent  shall  exempt,  through
     6  December  thirty-first, two thousand nineteen, those stock and non-stock
     7  insurance companies to  which  subparagraph  (B)  of  paragraph  two  of
     8  subsection  (b) of such section applies. Provided, however, for purposes
     9  of exempting certain insurance companies from the provisions of  section
    10  one  thousand three hundred twenty-four of this article, the superinten-
    11  dent shall exempt, through December thirty-first, two  thousand  twenty-
    12  one,  those non-stock insurance companies which primarily provide cover-
    13  age to persons providing medical care, teaching or engaging in  research
    14  at  the  state university of New York to which subparagraph (B) of para-
    15  graph two of subsection (b) of such section applies.
    16    § 2. Subsection (c) of section 2343 of the insurance law,  as  amended
    17  by  section 2 of part X of chapter 57 of the laws of 2015, is amended to
    18  read as follows:
    19    (c) Notwithstanding any other provision of this chapter,  no  applica-
    20  tion for an order of rehabilitation or liquidation of a domestic insurer
    21  whose  primary liability arises from the business of medical malpractice
    22  insurance, as that term is defined in subsection  (b)  of  section  five
    23  thousand  five hundred one of this chapter, shall be made on the grounds
    24  specified in subsection (a)  or  (c)  of  section  seven  thousand  four
    25  hundred  two of this chapter at any time prior to December thirty-first,
    26  two thousand nineteen. In addition, no application for an order of reha-
    27  bilitation or liquidation of a domestic insurer whose primary  liability
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16211-01-8
        S. 8997                             2
     1  arises from the business of medical malpractice insurance which primari-
     2  ly  provide  coverage  to  persons  providing  medical care, teaching or
     3  engaging in research at the state university of New York, as  that  term
     4  is  defined  in subsection (b) of section five thousand five hundred one
     5  of this chapter, shall be made on the grounds  specified  in  subsection
     6  (a) or (c) of section seven thousand four hundred two of this chapter at
     7  any time prior to December thirty-first, two thousand twenty-one.
     8    § 3. This act shall take effect immediately.