New York S 10080: 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

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S10080 Summary:

BILL NOS10080 

&nbsp

SAME ASSAME AS A08364-A

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §301, Fin Serv L

&nbsp

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 S10080 Actions:

BILL NOS10080 

&nbsp

04/27/2026REFERRED TO INSURANCE

Go to topS10080 Committee&nbspVotes:

Go to topS10080 Floor&nbspVotes:

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

Go to topS10080 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10080

 IN SENATE

 April 27, 2026
 ___________

 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 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.
 LBD11944-03-6

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