Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to labor |
Apr 30, 2021 |
referred to labor |
Assembly Bill A7276
2021-2022 Legislative Session
Sponsored By
BARNWELL
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-A7276 (ACTIVE) - Details
2021-A7276 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7276 2021-2022 Regular Sessions I N A S S E M B L Y April 30, 2021 ___________ Introduced by M. of A. BARNWELL -- read once and referred to the Commit- tee on Labor AN ACT to amend the insurance law, in relation to the definition of loss cost for purposes of workers' compensation insurance THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (g) of section 2304 of the insurance law, as added by chapter 11 of the laws of 2008, is amended to read as follows: (g) "Loss costs," for the purpose of workers' compensation insurance in this article, means that portion of a rate intended to represent the anticipated costs of claim payments [and loss adjustment expenses asso- ciated with such claim payments], and may include one or more trend factors. Loss costs do not include provisions for expenses [(other than loss adjustment expenses)] such as LOSS ADJUSTMENT EXPENSES, acquisition costs, overhead and taxes, or profit. For all other purposes, the super- intendent, except as otherwise provided in this chapter, may promulgate regulations defining loss costs. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11096-01-1
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