Senate Bill S7221

2025-2026 Legislative Session

Extends certain provisions relating to medical malpractice insurers

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Insurance 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

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2025-S7221 (ACTIVE) - Details

See Assembly Version of this Bill:
A6595
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§1325 & 2343, Ins L

2025-S7221 (ACTIVE) - Summary

Extends certain provisions relating to medical malpractice insurers until December 31, 2028.

2025-S7221 (ACTIVE) - Sponsor Memo

2025-S7221 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7221
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               April 4, 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  extending  certain
   provisions relating to medical malpractice insurers
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1325 of the insurance law, as  amended  by  chapter
 637 of the laws of 2022, is amended to read as follows:
   §  1325.  Exemption.  For  the purposes of exempting certain insurance
 companies from the provisions of  section  one  thousand  three  hundred
 twenty-four  of  this  article, the superintendent shall exempt, through
 December thirty-first, two thousand  [twenty-five]  TWENTY-EIGHT,  those
 stock  and  non-stock  insurance  companies to which subparagraph (B) of
 paragraph two of subsection (b) of such section applies.
   § 2. Subsection (c) of section 2343 of the insurance law,  as  amended
 by chapter 637 of the laws of 2022, is amended to read as follows:
   (c)  Notwithstanding  any other provision of this chapter, no applica-
 tion for an order of rehabilitation or liquidation of a domestic insurer
 whose primary liability arises from the business of medical  malpractice
 insurance,  as  that  term  is defined in subsection (b) of section five
 thousand five hundred one of this chapter, shall be made on the  grounds
 specified  in  subsection  (a)  or  (c)  of  section seven thousand four
 hundred two of this chapter at any time prior to December  thirty-first,
 two thousand [twenty-five] TWENTY-EIGHT.
   § 3. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10612-01-5

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