Allows residents who are employed by employers based in another state to obtain property/casualty or liability coverage under a policy issued to their employer in that state.
STATE OF NEW YORK
________________________________________________________________________
4985
2015-2016 Regular Sessions
IN ASSEMBLY
February 10, 2015
___________
Introduced by M. of A. BARCLAY, WALTER, CORWIN, FINCH -- read once and
referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to group
property/casualty insurance
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 3435 of the insurance law is amended by adding a
2 new subsection (e) to read as follows:
3 (e) Neither the provisions of this section nor any other provisions of
4 this chapter shall serve to prevent the issuance of a certificate of
5 group property/casualty or liability insurance issued to a resident of
6 this state when such certificate is issued under a master policy
7 procured by an employer based in another state, provided (i) the policy
8 is an approved policy issued by an insurer licensed in such state, (ii)
9 the policy has been approved for sale in such state, and (iii) provided
10 the certificate is issued without cost to the New York resident. Any
11 such certificate issued to a New York resident shall state that the
12 insurance provided thereunder is not regulated by the state of New York
13 and not subject to consumer protections otherwise afforded by this chap-
14 ter.
15 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07939-01-5
