Enacts the small insurer protection act prohibiting the filing of an application for an order of rehabilitation or liquidation of a small insurer on certain grounds unless such order is based on: the superintendent's adoption of a report on examination finding the company insolvent; or the annual or quarterly financial statements of the company, which show that the company's admitted assets do not exceed its liabilities and surplus to policyholders if the company does not maintain reserves in an amount determined reasonable by its independent loss reserve specialist or its appointed actuary.
Enacts the small insurer protection act prohibiting the filing of an application for an order of rehabilitation or liquidation of a small insurer on certain grounds unless such order is based on: the superintendent's adoption of a report on examination finding the company insolvent; or the annual or quarterly financial statements of the company, which show that the company's admitted assets do not exceed its liabilities and surplus to policyholders if the company does not maintain reserves in an amount determined reasonable by its independent loss reserve specialist or its appointed actuary.
Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.
Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.
The standards and management of an insurer with an insurance holding company system and the confidential treatment of investigation and examination records of insurance holding companies.
An Act Establishing Standards To Allow The Insurance Commissioner To Designate Certain Domestic Insurance Companies As Domestic Surplus Lines Insurers.
Enacts the "guaranteed reservation protection for rental car customers act"; provides that a rental vehicle company shall not charge any authorized driver a rental rate higher than the rate quoted in such driver's reservation.
Authorizes courts, upon issuance of an order of protection, to order exclusive care, custody, and control of certain companion animals be granted to the petitioner
Allows the department of financial services to have additional oversight of banks and insurance companies that are not currently licensed in this state; provides penalties for violations.