Bill Text: NY S01377 | 2019-2020 | General Assembly | Introduced

New York Senate Bill 1377 (Prior Session Legislation)

Introduced

Bill Title: Relates to schedule rating plans reflecting individual risk characteristics of an employer.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INSURANCE [S01377 Detail]

Download: New_York-2019-S01377-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          1377
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 14, 2019
                                       ___________
        Introduced  by  Sen.  FUNKE  -- 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 schedule rating  plans
          reflecting individual risk characteristics of an employer
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 2347 of the insurance law is amended  by  adding  a
     2  new subsection (f) to read as follows:
     3    (f)  Subject to approval by the department, an insurer may make avail-
     4  able a schedule rating plan reflecting individual  risk  characteristics
     5  of  an  employer.  The maximum rating modification pursuant to such plan
     6  offered in accordance with this subdivision shall be limited to plus  or
     7  minus twenty-five percent.  Any such rating modification is exclusive of
     8  credits  or  debits  authorized under section one hundred thirty-four of
     9  the workers' compensation law. The rating modification is further exclu-
    10  sive of all pricing mechanisms, including experience and merit rating. A
    11  schedule rating plan made available pursuant to  this  subsection  shall
    12  not  be  included in any general rate change made pursuant to subsection
    13  (a) of this section.
    14    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07174-01-9