STATE OF NEW YORK
________________________________________________________________________
5327
2025-2026 Regular Sessions
IN SENATE
February 20, 2025
___________
Introduced by Sens. BAILEY, GALLIVAN, MATTERA, MAYER -- read twice and
ordered printed, and when printed to be committed to the Committee on
Labor
AN ACT to amend the workers' compensation law, in relation to the
requirement for policyholders to provide 30-days notice to withdraw
from the state insurance fund
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision a of section 94 of the workers' compensation
2 law, as amended by chapter 635 of the laws of 1996, is amended to read
3 as follows:
4 a. Any employer may, upon complying with subdivision two or three of
5 section fifty of this chapter, withdraw from the fund by turning in
6 [his] their insurance contract for cancellation, provided [he has] they
7 have given written notice to the fund of [his] their intention to with-
8 draw not less than thirty days before the effective date of such cancel-
9 lation. Upon receipt of such notice the fund shall, at least ten days
10 prior to the effective date file in the office of the [chairman] chair a
11 notice of such cancellation date.
12 In no event shall the insurance contract be deemed cancelled until at
13 least ten days after the date of such filing, any earlier date mentioned
14 in the notice to the contrary notwithstanding.
15 If an employer withdraws from the fund upon complying with subdivision
16 two of section fifty of this chapter, the new insurance contract with
17 the stock corporation, mutual corporation or reciprocal insurer shall be
18 deemed not to take effect until the cancellation of such employer's
19 contract with the state insurance fund has become effective.
20 The requirements of this subdivision shall not apply when an employer
21 has given written notice to the fund of their intention to withdraw,
22 which shall include the effective date of such cancellation and proof
23 that the employer has complied with subdivision two of section fifty of
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09816-01-5
S. 5327 2
1 this chapter. The effective date of cancellation of such employer's
2 contract with the state insurance fund shall be the date that the new
3 insurance contract with the stock corporation, mutual corporation or
4 reciprocal insurer takes effect.
5 § 2. This act shall take effect on the ninetieth day after it shall
6 have become a law.
