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New YorkS 49602025-2026 Regular SessionSenateWALLET

Relates to extending the exemption from filing requirements only with respect to rates and policy forms to out of state businesses

Sponsored By: Jamaal Bailey (Republican)

Became Law

INSURANCE

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Exemption for $100K+ or unusual risks

A policy qualifies for the filing exemption when the risk brings in more than $100,000 in annual premium, or a higher amount set by the Superintendent. The exemption also applies when the risk is on the Superintendent’s list of unusual, high‑loss, or hard‑to‑place risks. The Superintendent can raise the $100,000 threshold by rule.

Insurers: no New York office for exemption

Insurers and brokers can get the filing exemption even if they underwrite New York risks from outside New York. You still must qualify under another path, like $100,000+ annual premium, a listed unusual or high‑loss risk, or the temporary large‑commercial rule.

Temporary exemption for large commercial policies

Until June 30, 2027, a non‑medical‑malpractice policy for a large commercial insured can use the filing exemption if the insured uses a special risk manager who is independent of the insurer and licensed in New York (or exempt). If a policy form was never filed before, file it for information within 3 business days after first delivery, and no later than 60 calendar days after the policy starts. After June 30, 2027, this path is no longer available for new policies.

Sponsors & Cosponsors

Sponsor

  • Jamaal Bailey

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 71 • No: 1

Senate vote • 5/6/2025

FLOOR Vote

Yes: 60 • No: 1

committee vote • 3/3/2025

Insurance Committee Vote

Yes: 11 • No: 0

Actions Timeline

  1. SIGNED CHAP.550

    11/21/2025Senate

  2. DELIVERED TO GOVERNOR

    11/17/2025Senate

  3. RETURNED TO SENATE

    6/16/2025House

  4. PASSED ASSEMBLY

    6/16/2025House

  5. ORDERED TO THIRD READING RULES CAL.781

    6/16/2025House

  6. SUBSTITUTED FOR A3888

    6/16/2025House

  7. REFERRED TO INSURANCE

    5/6/2025House

  8. DELIVERED TO ASSEMBLY

    5/6/2025Senate

  9. PASSED SENATE

    5/6/2025Senate

  10. ADVANCED TO THIRD READING

    3/5/2025Senate

  11. 2ND REPORT CAL.

    3/4/2025Senate

  12. 1ST REPORT CAL.420

    3/3/2025Senate

  13. REFERRED TO INSURANCE

    2/14/2025Senate

Bill Text

  • Original

    2/14/2025

    PDF

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