New York S 4964: Provides for the recordation of restrictive covenant modification documents where conveyance instruments include language violative of civil rights laws

Bill Text

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 Speaker Carl E. Heastie

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S04964 Summary:

BILL NOS04964 

&nbsp

SAME ASSAME AS A01521

&nbsp

SPONSORBAILEY

&nbsp

COSPNSRWEBB

&nbsp

MLTSPNSR

&nbsp

Amd §2118, Ins L

&nbsp

Relates to medical malpractice excess line insurance.

Go to top S04964 Actions:

BILL NOS04964 

&nbsp

02/14/2025REFERRED TO INSURANCE

03/03/20251ST REPORT CAL.421

03/04/20252ND REPORT CAL.

03/05/2025ADVANCED TO THIRD READING 

03/25/2025PASSED SENATE

03/25/2025DELIVERED TO ASSEMBLY

03/25/2025referred to insurance

01/07/2026died in assembly

01/07/2026returned to senate

01/07/2026REFERRED TO INSURANCE

02/03/20261ST REPORT CAL.219

02/04/20262ND REPORT CAL.

02/05/2026ADVANCED TO THIRD READING 

03/23/2026PASSED SENATE

03/23/2026DELIVERED TO ASSEMBLY

03/23/2026referred to insurance

Go to topS04964 Committee&nbspVotes:

Go to topS04964 Floor&nbspVotes:

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

Go to topS04964 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4964

 2025-2026 Regular Sessions

 IN SENATE

 February 14, 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 excess line coverage
 for certain medical malpractice insurance

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

 1 Section 1. Subsection (e) of section 2118 of the insurance law, as
 2 added by chapter 684 of the laws of 1993, subparagraph (A) of paragraph
 3 2 as amended by chapter 587 of the laws of 2002, subparagraph (C) of
 4 paragraph 2 as amended by chapter 498 of the laws of 1996, is amended to
 5 read as follows:
 6 (e)(1) Except as provided in paragraph two of this subsection, no
 7 licensee shall be required to obtain a declination from an association
 8 established pursuant to article fifty-four or fifty-five of this chap-
 9 ter, or to apply for insurance through a plan established pursuant to
 10 article fifty-three of this chapter, as a condition of procuring insur-
 11 ance pursuant to this section.
 12 (2) (A) Unless the licensee obtains a declination from the appropriate
 13 association, or from an insurer pursuant to an application for coverage
 14 through a plan, no diligent effort shall be considered to have been made
 15 if the insurance is available from the plan or association in connection
 16 with the placement of:
 17 (i) a policy of non-commercial motor vehicle liability insurance; or
 18 (ii) [medical malpractice insurance for a general hospital, as defined
 19 in subdivision ten of section two thousand eight hundred one of the
 20 public health law, a physician or dentist; or
 21 (iii)] insurance which by law must be provided by an authorized insur-
 22 er.
 23 (B) In connection with the placement of any other kind of insurance, a
 24 declination from the appropriate association, or from an insurer pursu-
 25 ant to an application for coverage through a plan, shall be required

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03691-01-5

 S. 4964 2

 1 unless prior to the placement the insured has been advised of the avail-
 2 ability of insurance from the plan or association.
 3 (C) The affirming broker shall provide written notice to the insured
 4 that the placement was made with an unauthorized insurer. A copy of this
 5 notice shall be attached to the affirming broker's affidavit. The affi-
 6 davits required by this section to be completed by the affirming broker
 7 shall include a statement that the affirming broker advised the insured
 8 in writing:
 9 (i) that the unauthorized insurer with which the coverage is being
 10 placed is not authorized to do an insurance business in this state and
 11 is not subject to supervision by this state;
 12 (ii) that in the event of the insolvency of the unauthorized insurer,
 13 losses will not be covered by any New York state insolvency fund;
 14 (iii) that the policy may not be subject to all of the regulations of
 15 the superintendent pertaining to policy forms; and
 16 (iv) such other information as the superintendent may, by regulation,
 17 require.
 18 § 2. This act shall take effect immediately.

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