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.
Requires peer-to-peer car sharing programs provide insurance coverage in amounts equal to the financial responsibility requirements set forth in section three hundred eleven of the vehicle and traffic law; removes requirements relating to requiring additional insurance coverage.
Requires peer-to-peer car sharing programs provide insurance coverage in amounts equal to the financial responsibility requirements set forth in section three hundred eleven of the vehicle and traffic law; removes requirements relating to requiring additional insurance coverage.
An Act Concerning Insurance Market Conduct And Insurance Licensing, The Insurance Department's Technical Corrections And Other Revisions To The Insurance Statutes And Captive Insurance.
An Act Concerning The Insurance Department's Recommendations Regarding Financial Regulation, Life Insurance And Insurance Licensing Requirements And Technical Corrections And Revisions To The Life And Health Insurance Statutes.
Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2024 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.