S 5329 New York Senate · 2025 Regular Session

Expands authorization for certain exemptions from filing requirements

This bill extends an exemption from certain insurance filing requirements for specific insurers until June 30, 2025. It applies to domestic property/casualty insurers with strong financial reserves (at least double the minimum surplus) or reciprocal insurers meeting minimum surplus requirements. To qualify, insurers must write at least 90% of their direct premiums as medical malpractice insurance, assume less than 5% of reinsurance premiums, and write 90% of premiums within the state. The change simplifies reporting for these insurers but does not alter insurance coverage or consumer protections.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2025 Last action Jan 7, 2026
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO INSURANCE
upper
Feb 20, 2025
Committee
REFERRED TO INSURANCE
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jamaal Bailey
Jamaal Bailey
DDemocratic/Working Families
NY
36