Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.
Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.
Requires pure captive insurance companies and group captive insurance companies who are a public entity, political subdivision, public authority, public benefit corporation, or a subsidiary thereof to hold at least two meetings each year in this state, have a majority of members required to be residents of this state, file an annual report with the governor, the temporary president of the senate, the speaker of the assembly, and the minority leaders of the senate and assembly, and submit to additional examinations.
Creates an affordable housing insurance relief fund program to provide grants to eligible projects for reasonable and necessary commercial insurance expenses.
Creates an affordable housing insurance relief fund program to provide grants to eligible projects for reasonable and necessary commercial insurance expenses.
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.