A 3888: Relates to extending the exemption from filing requirements only with respect to rates and policy forms to businesses underwritten and transacted from an office outside this state.

  
  STATE OF NEW YORK ________________________________________________________________________ 3888 2025-2026 Regular Sessions  IN ASSEMBLY January 30, 2025 ___________ Introduced by M. of A. WEPRIN -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to exemption from filing requirements only with respect to rates and policy forms The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (a) of section 6303 of the insurance law, as 2 amended by chapter 490 of the laws of 2011, paragraph 3 as amended by 3 chapter 75 of the laws of 2013 and the opening paragraph of paragraph 3 4 as amended by chapter 158 of the laws of 2023, is amended to read as 5 follows: 6 (a) The exemption that may be granted pursuant to this article shall 7 apply only if [the business is underwritten and transacted from an 8 office within this state; and]: 9 (1) the risk, as defined in regulations of the superintendent, produc- 10 es a minimum annual premium in excess of one hundred thousand dollars or 11 such higher amount as the superintendent may prescribe by regulation; 12 (2) the coverage is for a risk or class of risks which is of an unusu- 13 al nature, a high loss hazard, or difficult to place, pursuant to a list 14 promulgated or amended by the superintendent; or 15 (3) until June thirtieth, two thousand twenty-seven, the policy, other 16 than a medical malpractice insurance policy, is issued to a large 17 commercial insured that employs or retains a special risk manager to 18 assist in the negotiation and purchase of a policy exempted under this 19 article, provided, however, that: 20 (A)(i) the special risk manager is not employed by the insurer issuing 21 the policy or any person in the insurer's holding company system; and 22 (ii) the special risk manager is licensed as an insurance producer in 23 this state pursuant to article twenty-one of this chapter, unless 24 exempted from licensing therein; and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07792-01-5 
 A. 3888 2 1 (B) a policy form that has not been previously filed with the super- 2 intendent shall be filed with the superintendent for informational 3 purposes within three business days after first delivery of a policy 4 using such form, but no later than sixty calendar days after the incep- 5 tion date of such policy. 6 § 2. This act shall take effect immediately.