New York S 8343: Extends authorization for certain exemptions from filing requirements

Bill Text

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S08343 Summary:

BILL NOS08343 

&nbsp

SAME ASSAME AS A08413

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §6302, Ins L

&nbsp

Extends certain exemptions from regulatory requirements necessitating prior approval of rates and forms for large, commercial insureds.

Go to top S08343 Actions:

BILL NOS08343 

&nbsp

06/04/2025REFERRED TO RULES

06/09/2025ORDERED TO THIRD READING CAL.1663

06/10/2025SUBSTITUTED BY A8413

&nbspA08413 AMEND= Steck

&nbsp05/14/2025referred to insurance

&nbsp05/20/2025reported referred to rules

&nbsp05/21/2025reported 

&nbsp05/21/2025rules report cal.249

&nbsp05/21/2025ordered to third reading rules cal.249

&nbsp05/21/2025passed assembly

&nbsp05/21/2025delivered to senate

&nbsp05/21/2025REFERRED TO INSURANCE

&nbsp06/10/2025SUBSTITUTED FOR S8343

&nbsp06/10/20253RD READING CAL.1663

&nbsp06/10/2025PASSED SENATE

&nbsp06/10/2025RETURNED TO ASSEMBLY

&nbsp06/18/2025delivered to governor

&nbsp06/18/2025signed chap.146

Go to topS08343 Committee&nbspVotes:

Go to topS08343 Floor&nbspVotes:

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

Go to topS08343 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8343

 2025-2026 Regular Sessions

 IN SENATE

 June 4, 2025
 ___________

 Introduced by Sen. BAILEY -- 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 extending authori-
 zation for certain exemptions from filing requirements

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

 1 Section 1. Paragraph 3 of subsection (c) of section 6302 of the insur-
 2 ance law, as amended by chapter 158 of the laws of 2023, is amended to
 3 read as follows:
 4 (3) until June thirtieth, two thousand [twenty-five] twenty-seven, a
 5 domestic property/casualty insurance company that maintains at all times
 6 a surplus to policyholders of at least twice the minimum surplus to
 7 policyholders required to be maintained for the kinds of insurance that
 8 it is authorized to write in this state, or an insurer licensed pursuant
 9 to article sixty-one of this chapter as a reciprocal insurer that main-
 10 tains at all times a surplus to policyholders of at least the minimum
 11 surplus to policyholders required to be maintained for the kinds of
 12 insurance that it is authorized to write in this state, provided that
 13 the domestic property/casualty insurance company or reciprocal insurer:
 14 (A) has total direct premiums comprised of at least ninety percent
 15 medical malpractice insurance; (B) assumes reinsurance premiums in an
 16 amount that is less than five percent of total direct premiums written;
 17 and (C) writes ninety percent of its total direct premiums in this
 18 state.
 19 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10370-02-5

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