New York State Assembly

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A09931 Summary:

BILL NO	A09931
SAME AS	SAME AS S06454
SPONSOR	Morelle
COSPNSR
MLTSPNSR
Amd S2352, Ins L
Permits insurers to make available multiple rating programs for commercial insurance within the same company.

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A09931 Actions:

BILL NO	A09931
04/24/2012	referred to insurance

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A09931 Floor Votes:

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A09931 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9931
 
                   IN ASSEMBLY
 
                                     April 24, 2012
                                       ___________
 
        Introduced  by M. of A. MORELLE -- read once and referred to the Commit-
          tee on Insurance
 
        AN ACT to amend the insurance law, in relation to permitting insurers to
          make available multiple rating programs for commercial insurance with-
          in the same company
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 

     1    Section  1. Section 2352 of the insurance law, as added by chapter 457
     2  of the laws of 2011, is amended to read as follows:
     3    § 2352. Multiple rating programs. (a) Subject to the  superintendent's
     4  prior  approval,  an  insurer may establish more than one rating program
     5  within the same company for policies of insurance that  are  subject  to
     6  section  three  thousand four hundred twenty-five or section three thou-
     7  sand four hundred twenty-six of this chapter; provided that:
     8    (1) each rating program shall apply only to policies newly written  on
     9  or  after  the  effective  date  of  the rating program but prior to the
    10  effective date of any subsequently  approved  rating  program;  provided
    11  however  if  an  insurer  terminates  a rating program, then the insurer
    12  shall renew the policies that were  subject  to  the  terminated  rating

    13  program in a subsequently approved rating program.
    14    (2)  the  provisions  of subsection (f) of section three thousand four
    15  hundred twenty-five and subsection (b) of  section  two  thousand  three
    16  hundred  forty-nine  of  this  chapter  shall  be applied to each rating
    17  program to which they are applicable separately.
    18    (b) The superintendent may promulgate rules and regulations to  imple-
    19  ment the provisions of this section.
    20    §  2.  This  act shall take effect on the ninetieth day after it shall
    21  have become a law.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14538-01-2

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