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A10072 Summary:

COSPNSRBichotte Hermelyn
Add §7013, Ins L
Relates to establishing a captive insurance program for commuter vans.
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A10072 Text:

                STATE OF NEW YORK
                   IN ASSEMBLY
                                     April 29, 2022
        Introduced  by M. of A. DICKENS -- read once and referred to the Commit-
          tee on Insurance
        AN ACT to amend the insurance law, in relation to establishing a captive
          insurance program for commuter vans
          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 7013
     2  to read as follows:
     3    § 7013. Captive insurance program for commuter vans.  (a)  The  super-
     4  intendent  shall implement a captive insurance program for commuter vans
     5  that are engaged in the business of carrying or transporting  passengers
     6  for hire. The program shall include, but shall not be limited to:
     7    (1) identifying and licensing a captive insurance company or companies
     8  to provide necessary insurance coverage to commuter vans;
     9    (2)  standards  for  enrollment  of  eligible commuter vans, including
    10  mechanisms for determining eligibility; and
    11    (3) standards for monitoring the performance of such captive insurance
    12  company or companies  in  providing  affordable  insurance  coverage  to
    13  commuter vans participating in the program.
    14    (b)  For  the  purposes of this section, the term "commuter van" shall
    15  have the same meaning as such term is defined in section 19-502  of  the
    16  administrative code of the city of New York.
    17    §  2.  This  act shall take effect on the ninetieth day after it shall
    18  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
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