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.
Requires the superintendent to promulgate regulations which provide standardized definitions for commonly used terms and phrases in certain insurance policies.
Relates to licensing of independent insurance adjusters by waiving requirements regarding a written examination if the applicant holds a claim certification from a national or state-based claims association.
Requires coverage for hearing aids for patients who are covered under a policy or contract of insurance if the hearing aids are fitted and dispensed by a licensed audiologist certified by the American Speech-Language-Hearing Association following medical clearance by a physician licensed to practice medicine and an audiological evaluation.
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.
Adds to the definition of serious injury; relates to determining the sufficiency of the evidence related to the serious injury; includes that question of fact will be determined by the trier.
Requires a review and report by the superintendent of financial services, in consultation with the office of court administration, on the adequacy, reasonableness and affordability of insurance products designed to pay for the future medical expenses of injured plaintiffs who receive a judgment or settlement for damages that include future medical expenses.
Prohibits cost sharing for insulin; provides that an insured shall not be subject to a deductible, copayment, coinsurance or any other cost sharing requirement for the purchase of insulin.
Requires health insurance policies to offer full coverage for annual testing for ovarian cancer; requires certain health care providers offer annual testing for ovarian cancer.
Enacts the "health insurance preauthorization disclosure act"; requires health insurance companies to provide participating health care providers with a list of health care treatments and services that require preauthorization from the health insurance company.
Relates to the distribution of fire insurance premium taxes; provides that a percentage of fire insurance premium taxes be paid to the treasurer of the NYS Professional Firefighters Association to promote, support and maintain the well-being of paid professional firefighters employed in the state.
Prohibits insurers from reducing disability benefits due to the actual or anticipated receipt of social security disability benefits unless certain conditions are met.