New York A 8364: Requires the superintendent of financial services to conduct a review of mandated benefits and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits

Bill Text

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A08364 Summary:

BILL NOA08364A

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SAME ASSAME AS S10080

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SPONSORWeprin

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COSPNSR

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MLTSPNSR

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Amd §301, Fin Serv L

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Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.

Go to top A08364 Actions:

BILL NOA08364A

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05/13/2025referred to insurance

01/07/2026referred to insurance

05/07/2026amend and recommit to insurance

05/07/2026print number 8364a

05/20/2026reported referred to ways and means

Go to topA08364 Committee&nbspVotes:

Committee:INSURANCE Chair:Weprin 
DATE:05/20/2026AYE/NAY:21/1 Action: Favorable refer to committee Ways and Means WeprinAyeBlankenbushAye

CookExcusedHawleyExcused

LavineAyeGandolfoAye

SteckAyeJensenAye

DilanAyeBlumencranzAye

HunterAyeBendettAye

BronsonAyeChludzinskiAye

ForrestAye

AndersonAye

CruzAye

BoresAye

LunsfordAye

BergerAye

EichensteinAye

KayAye

YegerNay

WiederAye

LeeExcused

Go to topA08364 Floor&nbspVotes:

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

Go to topA08364 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8364--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 13, 2025
 ___________

 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
 on Insurance -- recommitted to the Committee on Insurance in accord-
 ance with Assembly Rule 3, sec. 2 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the financial services law, in relation to requiring the
 superintendent of financial services to conduct a review of mandated
 benefits and their impact on insurance premiums and to conduct a cost
 analysis of legislation mandating new insurance benefits

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 301 of the financial services law is amended by
 2 adding two new subsections (d) and (e) to read as follows:
 3 (d) The superintendent shall be required to conduct a review of
 4 mandated benefits required by New York state law in effect as of Decem-
 5 ber thirty-first, two thousand twenty-five and issue a report detailing
 6 both the individual and cumulative costs of such mandates on insurance
 7 premiums. Such report shall be due one year from the date on which this
 8 subsection takes effect.
 9 (e) The superintendent shall be required to conduct a cost analysis of
 10 legislation mandating new insurance benefits to examine the impact on
 11 insurance premiums prior to the adoption of such legislation. New legis-
 12 lation passed but not yet considered by the governor shall not be deemed
 13 in full force and effect until such cost analysis from the superinten-
 14 dent is completed and made publicly available for review and comment.
 15 The provisions of this subsection shall apply to all legislation passed
 16 on or after the date which this subsection takes effect.
 17 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11944-02-6

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