New York State Assembly

Bill No.:  

 
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S07988 Summary:

BILL NO	S07988
SAME AS	SAME AS A10155-A
SPONSOR	SEWARD
COSPNSR
MLTSPNSR
Amd §76, Work Comp L
Relates to providing a commission schedule to pay licensed insurance brokers for services provided to their clients who obtain coverage through the state insurance fund.

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S07988 Actions:

BILL NO	S07988
03/16/2018	REFERRED TO LABOR

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S07988 Committee Votes:

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S07988 Floor Votes:

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S07988 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7988
 
                    IN SENATE
 
                                     March 16, 2018
                                       ___________
 
        Introduced  by  Sen.  SEWARD -- 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  directing
          the  state  insurance  fund to compensate licensed insurance producers
          for the services provided to clients who obtain coverage  through  the
          fund

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 5 of section 76 of  the  workers'  compensation
     2  law is renumbered subdivision 6 and a new subdivision 5 is added to read
     3  as follows:
     4    5.  The  purposes  of  such  state  insurance  fund are hereby further
     5  enlarged to permit it to compensate licensed insurance brokers  for  the
     6  services  they provide their clients who are insured in the fund through
     7  the payment of commissions. The commissioners  of  the  state  insurance
     8  fund  are hereby authorized and directed to establish, within the exist-
     9  ing rate structure, a factor to compensate licensed insurance  producers
    10  for  the  services provided to their clients who obtain coverage through
    11  the fund.
    12    § 2. This act shall take effect immediately.
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14891-01-8

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