Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations to be deposited in the New York state agency trust fund, distressed provider assistance account.
Requires health insurers to provide coverage for long term medical care for Lyme disease and other tick borne related pathogens; provides for taxpayer gifts for tick borne illness research, detection and education; establishes the tick borne illness research, detection and education fund.
Relates to the distribution of the foreign and alien fire insurance premium tax; provides amount received shall be distributed to the fire companies in proportion to the number of active members within each company.
Reduces the minimum nonforfeiture interest rate for annuities from one percent to one half of one percent for annuities during the surrender charge period, and from one percent to fifteen hundredths of one percent during any contract period with no surrender charge.
Provides that prescriptions covered by insurance, that would otherwise be required to be filled by mail order, may be filled at a retail pharmacy under certain circumstances.
Authorizes the investigation of fraudulent activities with regard to individuals operating motor vehicles without insurance; increases the civil penalty for forging insurance documents; creates the crime of offering a false application for motor vehicle insurance or registration.
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 providing for the use of treatment guidelines in the no-fault system; prohibits insurers from paying any charge which exceeds the applicable fee schedule or which is not provided for under the fee schedule or compensable under Medicare.
Provides for the formation of mutual holding companies by certain domestic mutual property/casualty insurers and the reorganization in connection therewith of a domestic mutual property/casualty insurer into a domestic stock property/casualty insurer.