Relates to contractual liability insurance policies; requires the insurer to either discharge the obligations of the provider under the terms of the service contract, or in the event of the provider's nonperformance, cancellation of the service contract.
Requires disclosure, in such form as the superintendent shall require, of non-confidential information regarding step therapy override requests and determinations on a website that is readily accessible to the public.
Relates to coverage for certain benefits under comprehensive motor vehicle insurance; prohibits assignment of benefits to durable medical equipment providers unless approved.
Provides that payment of interest penalty and attorney fees to claimant when payment of a claim is overdue shall be exclusive remedy when insurer fails to make timely payment; provides such failure of insurer to make timely payment or issue denial within 30 days after proof of claim has been submitted to insurer shall not preclude such insurer from issuing a denial or asserting a defense after the 30 day period has elapsed.
Relates to authorizing the superintendent of financial services to grant three credit hours of continuing education for a licensees' active membership in a statewide professional insurance producer association.
Relates to notice of disclaimer of liability for certain revived causes of action; provides such notice shall occur within 120 days after the insurer has received actual notice of such revived claim or cause of action.
Relates to replacement of individual life insurance policies or annuity contracts; amends provisions relating to misrepresentations and misleading statements; requires replacements regulation be consistent with policies of the national association of insurance commissioners.
Requires forest management plans, subject to the approval of the department of environmental conservation, for certain lands subject to a conservation easement purchased by the state; forbids clearcutting on such lands without such forest management plan; increases the jurisdiction of the Adirondack park agency over clearcutting.
Requires legislators and candidates for members of the legislature to provide a link to their financial disclosure statements on their official state and campaign websites which shall direct website visitors to current and past financial disclosure forms that the legislator has submitted.
Directs the state insurance fund to compensate insurance brokers for services provided to clients who obtain coverage through the fund; establishes within the existing rate structure a factor to compensate licensed insurance producers for services provided to clients who obtain coverage through the fund.