S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10634
 
                           I N  A S S E M B L Y
 
                                May 9, 2018
                                ___________
 
 Introduced  by M. of A. STECK -- read once and referred to the Committee
   on Insurance
 
 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:

   Section 1. Paragraph 3 of subsection (c) of section 6302 of the insur-
 ance law, as amended by chapter 24 of the laws of 2015,  is  amended  to
 read as follows:
   (3)  until  December  thirty-first,  two thousand [eighteen] TWENTY, a
 domestic property/casualty insurance company that maintains at all times
 a surplus to policyholders of at least  twice  the  minimum  surplus  to
 policyholders  required to be maintained for the kinds of insurance that
 it is authorized to write in this state, or an insurer licensed pursuant
 to article sixty-one of this chapter as a reciprocal insurer that  main-
 tains  at  all  times a surplus to policyholders of at least the minimum
 surplus to policyholders required to be  maintained  for  the  kinds  of
 insurance  that  it  is authorized to write in this state, provided that
 the domestic property/casualty insurance company or reciprocal  insurer:
 (A)  has  total  direct  premiums  comprised  of at least ninety percent
 medical malpractice insurance; (B) assumes reinsurance  premiums  in  an
 amount  that is less than five percent of total direct premiums written;
 and (C) writes ninety percent of  its  total  direct  premiums  in  this
 state.
   § 2. The opening paragraph of paragraph 3 of subsection (a) of section
 6303 of the insurance law, as amended by chapter 24 of the laws of 2015,
 is amended to read as follows:
   until  June thirtieth, two thousand [nineteen] TWENTY-THREE, the poli-
 cy, other than a medical malpractice insurance policy, is  issued  to  a
 large  commercial insured that employs or retains a special risk manager
 to assist in the negotiation and purchase of  a  policy  exempted  under
 this article, provided, however, that:
   § 3. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14305-03-8