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A08306 Text:

                STATE OF NEW YORK
                               2021-2022 Regular Sessions
                   IN ASSEMBLY
                                    October 20, 2021
        Introduced by M. of A. CAHILL -- read once and referred to the Committee
          on Insurance
        AN ACT to amend the insurance law, in relation to permitting insurers to
          make available multiple rating programs for commercial insurance with-
          in the same company
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 2352 of the insurance law, as added by chapter  457
     2  of the laws of 2011, is amended to read as follows:
     3    §  2352. Multiple rating programs. (a) Subject to the superintendent's
     4  prior approval, an insurer may establish more than  one  rating  program
     5  within  the  same  company for policies of insurance that are subject to
     6  section three thousand four hundred twenty-five or section  three  thou-
     7  sand four hundred twenty-six of this chapter; provided that:
     8    (1)  each rating program shall apply only to policies newly written on
     9  or after the effective date of the  rating  program  but  prior  to  the
    10  effective  date  of  any  subsequently approved rating program; provided
    11  however if an insurer terminates a  rating  program,  then  the  insurer
    12  shall  renew  the  policies  that  were subject to the terminated rating
    13  program in a subsequently approved rating program.
    14    (2) the provisions of subsection (f) of section  three  thousand  four
    15  hundred  twenty-five  and  subsection  (b) of section two thousand three
    16  hundred forty-nine of this chapter  shall  be  applied  to  each  rating
    17  program to which they are applicable separately.
    18    (b)  The superintendent may promulgate rules and regulations to imple-
    19  ment the provisions of this section.
    20    § 2. This act shall take effect on the ninetieth day  after  it  shall
    21  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
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