Authorizes the superintendent of financial services to hire an actuary to assist with reviewing any rate or form filing submitted to the superintendent.
STATE OF NEW YORK
________________________________________________________________________
4259--A
2025-2026 Regular Sessions
IN ASSEMBLY
January 31, 2025
___________
Introduced by M. of A. WEPRIN -- read once and referred to the Committee
on Insurance -- committee discharged, bill amended, ordered reprinted
as amended and recommitted to said committee
AN ACT to amend the insurance law, in relation to the hiring of actuar-
ies; and providing for the repeal of such provisions upon expiration
thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The insurance law is amended by adding a new section 303 to
2 read as follows:
3 § 303. Hiring of actuaries. The superintendent may engage the
4 services of an actuary that or whom the superintendent deems necessary
5 to assist the superintendent, including assisting with reviewing any
6 rate or form filing, pursuant to article thirty-four of this chapter
7 submitted to the superintendent. The person who submitted the filing to
8 the superintendent or the person for whom the services were performed,
9 other than the superintendent, shall pay the cost of such services
10 directly to the actuary engaged.
11 § 2. This act shall take effect immediately and shall expire January
12 1, 2029 when upon such date the provisions of this act shall be
13 repealed.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07823-02-5
