Assembly Bill A8306

Signed By Governor
2021-2022 Legislative Session

Permits insurers to make available multiple rating programs for commercial insurance within the same company

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

  • 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

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2021-A8306 (ACTIVE) - Details

See Senate Version of this Bill:
S3572
Law Section:
Insurance Law
Laws Affected:
Amd §2352, Ins L
Versions Introduced in 2019-2020 Legislative Session:
S5735

2021-A8306 (ACTIVE) - Summary

Permits insurers to make available multiple rating programs for commercial insurance within the same company.

2021-A8306 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8306
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             October 20, 2021
                                ___________
 
 Introduced by M. of A. CAHILL -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to permitting insurers to
   make available multiple rating programs for commercial insurance with-
   in the same company
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 2352 of the insurance law, as added by chapter  457
 of the laws of 2011, is amended to read as follows:
   §  2352. Multiple rating programs. (a) Subject to the superintendent's
 prior approval, an insurer may establish more than  one  rating  program
 within  the  same  company for policies of insurance that are subject to
 section three thousand four hundred twenty-five OR SECTION  THREE  THOU-
 SAND FOUR HUNDRED TWENTY-SIX of this chapter; provided that:
   (1)  each rating program shall apply only to policies newly written on
 or after the effective date of the  rating  program  but  prior  to  the
 effective  date  of  any  subsequently approved rating program; provided
 however if an insurer terminates a  rating  program,  then  the  insurer
 shall  renew  the  policies  that  were subject to the terminated rating
 program in a subsequently approved rating program.
   (2) the provisions of subsection (f) of section  three  thousand  four
 hundred  twenty-five  and  subsection  (b) of section two thousand three
 hundred forty-nine of this chapter  shall  be  applied  to  each  rating
 program TO WHICH THEY ARE APPLICABLE separately.
   (b)  The superintendent may promulgate rules and regulations to imple-
 ment the provisions of this section.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07531-01-1

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