New York S 7221: Extends certain provisions relating to medical malpractice insurers

Bill Text

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S07221 Summary:

BILL NOS07221 

&nbsp

SAME ASSAME AS A06595

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §§1325 & 2343, Ins L

&nbsp

Extends certain provisions relating to medical malpractice insurers until December 31, 2028.

Go to top S07221 Actions:

BILL NOS07221 

&nbsp

04/04/2025REFERRED TO INSURANCE

05/28/20251ST REPORT CAL.1451

05/29/20252ND REPORT CAL.

06/04/2025ADVANCED TO THIRD READING 

06/09/2025SUBSTITUTED BY A6595

&nbspA06595 AMEND= Weprin

&nbsp03/06/2025referred to insurance

&nbsp05/13/2025reported 

&nbsp05/15/2025advanced to third reading cal.157

&nbsp05/20/2025passed assembly

&nbsp05/20/2025delivered to senate

&nbsp05/20/2025REFERRED TO INSURANCE

&nbsp06/09/2025SUBSTITUTED FOR S7221

&nbsp06/09/20253RD READING CAL.1451

&nbsp06/09/2025PASSED SENATE

&nbsp06/09/2025RETURNED TO ASSEMBLY

&nbsp08/04/2025delivered to governor

&nbsp08/07/2025signed chap.222

Go to topS07221 Committee&nbspVotes:

Go to topS07221 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS07221 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7221

 2025-2026 Regular Sessions

 IN SENATE

 April 4, 2025
 ___________

 Introduced by Sen. BAILEY -- 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 extending certain
 provisions relating to medical malpractice insurers

 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 amended by chapter
 2 637 of the laws of 2022, 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 [twenty-five] twenty-eight, those
 7 stock and non-stock insurance companies to which subparagraph (B) of
 8 paragraph two of subsection (b) of such section applies.
 9 § 2. Subsection (c) of section 2343 of the insurance law, as amended
 10 by chapter 637 of the laws of 2022, is amended to read as follows:
 11 (c) Notwithstanding any other provision of this chapter, no applica-
 12 tion for an order of rehabilitation or liquidation of a domestic insurer
 13 whose primary liability arises from the business of medical malpractice
 14 insurance, as that term is defined in subsection (b) of section five
 15 thousand five hundred one of this chapter, shall be made on the grounds
 16 specified in subsection (a) or (c) of section seven thousand four
 17 hundred two of this chapter at any time prior to December thirty-first,
 18 two thousand [twenty-five] twenty-eight.
 19 § 3. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10612-01-5

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