Removes the state insurance fund's exemption from licensing and other requirements of the insurance law; requires the superintendent of financial services to approve the rules adopted by the state insurance fund for the conduct of its business; removes the requirement for policyholders to provide thirty days notice to withdraw from the state insurance fund.
Relates to mortgage guaranty insurance; allows for withdrawals from the contingency reserve if the superintendent determines that such withdrawals will not be harmful to policy holders.
Relates to mortgage guaranty insurance; allows for withdrawals from the contingency reserve if the superintendent determines that such withdrawals will not be harmful to policy holders.
Adjusts the taxable income of individuals who were forced to withdraw funds from certain retirement accounts due to damage of primary residences following Superstorm Sandy to ensure such individuals were not penalized for withdrawing such funds.
Relates to mandating insurance coverage for medical devices and products to treat withdrawal symptoms which are approved by the food and drug administration.
Requires employers to provide notice of insurance requirements for injured employees to such employees in their native language; requires employers to provide notice of how to file a claim to injured workers; establishes a penalty for failure to comply with such notice requirements.
Provides that certain provisions relating to rebating and discrimination regarding insurance contracts shall not prohibit any insurer from providing loss mitigation or loss control programs at no cost or a reduced cost to policyholders.
Requires health and motor vehicle insurance policies to notify policyholders of cancellation, discontinuance or major changes to their policy via email and to offer paperless notification upon the issuance of such policies.