Prohibits the application of fail-first or step therapy protocols to coverage for the diagnosis and treatment of serious mental health conditions; defines serious mental health condition.
Provides for the use of telematics or usage-based insurance for private passenger or commercial automobile insurance or policies in certain circumstances.
Exempts the city of New York, the city school district of the city of New York, the New York city industrial development agency, the New York city health and hospitals corporation, or the New York city housing authority in connection with construction contracts that have an estimated cost of no less than five million dollars or is subject to an owner-controlled insurance program for projects from requirements regarding application to a particular insurance company, agent or broker.
Establishes standards for the prompt investigation and settlement of claims arising out of states of emergency and disasters; relates to the effectiveness thereof.
Authorizes certain policies issued by a risk retention group not chartered in this state; requires reporting by certain risk retention groups of other state's examinations, audits, or other investigations and their findings; amends the effective date of a chapter of the laws of 2023 amending the insurance law and the vehicle and traffic law relating to owner's policies of liability insurance issued by a risk retention group not chartered within this state, as proposed in legislative bills numbers S.5959-B and A.5718-B, to March 1, 2024.
Requires property/casualty insurance policies to state the types and causes of damage that are covered by such policy; requires such information to be provided at or near the beginning of such policy.
Requires health insurance plans to provide coverage for medically necessary epinephrine auto-injector devices; caps the out-of-pocket cost of the co-pay or deductible for such epi-pens at sixty dollars.
Requires that policy provisions regarding supplemental spousal liability insurance apply only to policies issued or delivered to an insured who is married.
Requires comprehensive coverage for treatment of obesity, including coverage for prevention and wellness, nutrition counseling, intensive behavioral therapy, bariatric surgery, and FDA-approved anti-obesity medication.
Relates to access to appropriate drugs at reasonable prices, formulary exceptions, standing prior authorizations and external appeals; to access to retail pharmacies, prescription synchronization, limits on patient drug costs, explanations of benefits and rebates; to prescription drug synchronization; to pharmacy benefit management; and to limits on copayments and drug substitutions.
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.