New York Senate Bill S06084 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 6084 2025-2026 Regular Sessions  IN SENATE March 5, 2025 ___________ Introduced by Sens. PARKER, COMRIE, JACKSON, MYRIE, PERSAUD, SANDERS, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to establishing a captive insurance program for commuter vans The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The insurance law is amended by adding a new section 7013 2 to read as follows: 3 § 7013. Captive insurance program for commuter vans. (a) The super- 4 intendent shall implement a captive insurance program for commuter vans 5 that are engaged in the business of carrying or transporting passengers 6 for hire. The program shall include, but shall not be limited to: 7 (1) identifying and licensing a captive insurance company or companies 8 to provide necessary insurance coverage to commuter vans; 9 (2) standards for enrollment of eligible commuter vans, including 10 mechanisms for determining eligibility; and 11 (3) standards for monitoring the performance of such captive insurance 12 company or companies in providing affordable insurance coverage to 13 commuter vans participating in the program. 14 (b) For the purposes of this section, the term "commuter van" shall 15 have the same meaning as such term is defined in section 19-502 of the 16 administrative code of the city of New York. 17 § 2. This act shall take effect on the ninetieth day after it shall 18 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10635-01-5