Permits any title insurance corporation or title insurance agent, or any other person acting for or on behalf of the title insurance corporation or title insurance agent, from undertaking any usual and customary marketing activity aimed at acquainting present and prospective customers with the advantages of using a particular title insurer or title insurance agent that are not intended for the purpose of a reward for the future placement of, or the past placement, of a particular piece of title insurance business; lays out such permitted practices.
Mandates transparency of the expenses of title insurance corporations, including marketing expenses, lobbying expenses, salaries and other forms of compensation and authorizes the department of financial services to lower title insurance rates if deemed excessive.
Establishes the New York title guaranty program to provide title insurance for real property within the state; establishes the New York title guaranty corporation to implement the New York title guaranty program.
Establishes the New York title guaranty program to provide title insurance for real property within the state; establishes the New York title guaranty corporation to implement the New York title guaranty program.
Raises tax credits for long-term care insurance from twenty percent to fifty percent; applies to the corporation tax, franchise tax on business corporations, personal income tax, and franchise tax on insurance corporations.
Directs the state insurance fund to offer title insurance; authorizes the superintendent of financial services to implement such program.
Allows for insurance providers and corporations to create and offer reward or incentive programs to eligible members.
Allows for insurance providers and corporations to create and offer reward or incentive programs to eligible members.
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.
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.