Senate BillIntroduced
S 5329: Expands authorization for certain exemptions from filing requirements.
What S 5329 does, verified January 8, 2026
The bill aims to expand authorizations for certain exemptions from filing requirements for insurance companies. It allows domestic property/casualty insurance companies and reciprocal insurers to write insurance in the state with certain conditions. These conditions include maintaining a surplus to policyholders of at least twice the minimum required surplus, having at least ninety percent of total direct premiums comprised of medical malpractice insurance, and writing ninety percent of total direct premiums in the state. The bill takes effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: REFERRED TO INSURANCE (2026-01-07)Alert me
Quick answers about S 5329
- What is the current status of S 5329?
- As of January 8, 2026, S 5329 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "REFERRED TO INSURANCE".
- Did S 5329 pass?
- Not yet. S 5329 has been introduced and has not passed either house.
- Who wrote S 5329, and where is it now?
- S 5329 was authored by Sen. Jamaal Bailey. Its committee of record is Senate Insurance.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | REFERRED TO INSURANCE |
| Feb. 20, 2025 | REFERRED TO INSURANCE |
Latest bill textIntroduced version, February 20, 2025 · 316 words
STATE OF NEW YORK ________________________________________________________________________ 5329 2025-2026 Regular Sessions IN SENATE February 20, 2025 ___________ Introduced by Sen. BAILEY -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to expanding authori- zation for certain exemptions from filing requirements The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph 3 of subsection (c) of section 6302 of the insur- 2 ance law, as amended by chapter 158 of the laws of 2023, is amended to 3 read as follows: 4 (3) until June thirtieth, two thousand [twenty-five] thirty, a domes- 5 tic property/casualty insurance company that maintains at all times a 6 surplus to policyholders of at least twice the minimum surplus to poli- 7 cyholders required to be maintained for the kinds of insurance that it 8 is authorized to write in this state, or an insurer licensed pursuant to 9 article sixty-one of this chapter as a reciprocal insurer that maintains 10 at all times a surplus to policyholders of at least the minimum surplus 11 to policyholders required to be maintained for the kinds of insurance 12 that it is authorized to write in this state, provided that the domestic 13 property/casualty insurance company or reciprocal insurer: (A) has 14 total direct premiums comprised of at least ninety percent medical malp- 15 ractice insurance; [(B) assumes reinsurance premiums in an amount that16is less than five percent of total direct premiums written;] and [(C)] 17 (B) writes ninety percent of its total direct premiums in this state. 18 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07822-01-5
Text of S 5329 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions