Authorizes the superintendent of financial services to hire a consultant to assist with reviewing any rate or form filing submitted to the superintendent.
STATE OF NEW YORK
________________________________________________________________________
5321
2025-2026 Regular Sessions
IN SENATE
February 20, 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 the hiring of consult-
ants
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 consultants. The superintendent may engage the
4 services of a consultant that or whom the superintendent deems necessary
5 to assist the superintendent, including assisting with reviewing any
6 rate or form filing submitted to the superintendent. The person who
7 submitted the filing to the superintendent or the person for whom the
8 services were performed, other than the superintendent, shall pay the
9 cost of such services directly to the consultant engaged.
10 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07823-01-5
