New YorkA 84132025-2026 Regular SessionHouseWALLET

Extends authorization for certain exemptions from filing requirements

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Filing break for New York malpractice insurers

The law extends an exemption from certain filing rules through June 30, 2027. It applies to New York medical malpractice insurers that meet strict tests. A domestic property and casualty insurer must keep at least twice the minimum required surplus. A licensed reciprocal insurer must keep at least the minimum required surplus. At least 90% of total direct premiums must be medical malpractice. Assumed reinsurance premiums must be under 5% of total direct premiums written. At least 90% of direct premiums must be written in New York. The law takes effect immediately.

Sponsors & Cosponsors

Sponsor

Phil Steck
Democratic • House

Cosponsors

David Weprin
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 57 • No: 1

House vote • 6/10/2025

FLOOR Vote