Title ISC, Insurance

§ 2803. Dispute resolution and error correction. If it is determined\nthrough the dispute resolution process set forth in the federal Fair\nCredit Reporting Act, 15 USC 1681i(a)(5), that the credit information of\na current insured was incorrect or incomplete and if the insurer\…

§ 2804. Initial notification. An insurer writing personal lines\ninsurance which uses credit information in underwriting or rating a\nconsumer, shall disclose such fact to the consumer. The insurer shall\nprovide the disclosure required under this section to any insured on new\n…

§ 2805. Adverse action notification. If an insurer takes an adverse\naction based upon credit information, the insurer shall:\n (a) provide notification to the consumer that an adverse action has\nbeen taken, in accordance with the requirements of the federal Fair\nCredit Report…

§ 2806. Filing. (a) Insurers that use insurance scores to underwrite\nand rate risks must file their scoring models (or other scoring\nprocesses) with the superintendent. Any subsequent revision to the\nscoring models will require the insurer to file a summary of the\nrevision w…

§ 2807. Sale of information by consumer reporting agency. (a) No\nconsumer reporting agency shall provide or sell data or lists that\ninclude any information that in whole or in part was submitted in\nconjunction with an insurance inquiry about a consumer's credit\ninformation o…

§ 2808. Indemnification. An insurer shall indemnify, defend and hold\nagents harmless from and against all liability, fees and costs arising\nout of or relating to the actions, errors or omissions of the agent\nresulting from obtaining or using credit information and/or insuranc…

§ 2809. Severability. If any section, paragraph, sentence, clause,\nphrase, or any part of this article is declared invalid due to an\ninterpretation of or a future change in the federal Fair Credit\nReporting Act or is adjudged by any court of competent jurisdiction to\nbe inva…

§ 2901. Definitions. For purposes of this article:\n (a) "Controlling person" is any person or other entity who or which\ndirectly or indirectly has the power to direct or cause to be directed\nthe management, control or activities of a pharmacy benefit manager.\n (b) The terms …

§ 2902. Acting without a registration. (a) No person, firm,\nassociation, corporation or other entity may act as a pharmacy benefit\nmanager on or after June first, two thousand twenty-two and prior to\nJanuary first, two thousand twenty-four, without having a valid\nregistratio…

§ 2903. Registration requirements for pharmacy benefit managers. (a)\nEvery pharmacy benefit manager that performs pharmacy benefit management\nservices on or after June first, two thousand twenty-two and prior to\nJanuary first, two thousand twenty-four shall register with the\…

§ 2904. Reporting requirements for pharmacy benefit managers. (a) (1)\n(i) On or before July first of each year, every pharmacy benefit manager\nshall report to the superintendent, in a statement subscribed and\naffirmed as true under penalties of perjury, the information reques…

§ 2905. Acting without a license. (a) No person, firm, association,\ncorporation or other entity may act as a pharmacy benefit manager on or\nafter January first, two thousand twenty-four without having authority\nto do so by virtue of a license issued in force pursuant to the\n…

§ 2906. Licensing of a pharmacy benefit manager. (a) The\nsuperintendent may issue a pharmacy benefit manager's license to any\nperson, firm, association or corporation who or that has complied with\nthe requirements of this article, including regulations promulgated by\nthe sup…

§ 2907. Revocation or suspension of a registration or license of a\npharmacy benefit manager. (a) The superintendent may revoke, or may\nsuspend for a period the superintendent determines the registration or\nlicense of any pharmacy benefit manager if, after notice and hearing,\…

§ 2908. Penalties for violations. (a) The superintendent, in addition\nto any other power conferred by law, may in any one proceeding by order,\nrequire the registrant or licensee who violates the provisions of this\narticle or section two hundred eighty-a of the public health l…

§ 2909. Stay or suspension of superintendent's determination. The\ncommencement of a proceeding under article seventy-eight of the civil\npractice law and rules, to review the action of the superintendent in\nsuspending or revoking or refusing to renew any certificate under this…

§ 2910. Revoked registrations or licenses. (a)(1) No person, firm,\nassociation, corporation or other entity subject to the provisions of\nthis article whose registration or license under this article has been\nrevoked, or whose registration or license to engage in the business …

§ 2911. Additional obligations. (a) A pharmacy benefit manager shall\nassist a health plan in answering any inquiry made under section three\nhundred eight of this chapter.\n (b) No pharmacy benefit manager shall violate any provisions of the\npublic health law applicable to pha…

§ 2912. Change of address. A registrant or licensee under this article\nshall inform the superintendent by a means acceptable to the\nsuperintendent of a change of address within thirty days of the change.\n

§ 2913. Applicability of other laws. Nothing in this article shall be\nconstrued to exempt a pharmacy benefit manager from complying with the\nprovisions of articles twenty-one and forty-nine of this chapter and\narticles forty-four and forty-nine and section two hundred eighty-…

§ 2914. Assessments. Notwithstanding section two hundred six of the\nfinancial services law, pharmacy benefit managers that file a\nregistration with the department or are licensed by the department shall\nbe assessed by the superintendent for the operating expenses of the\ndepa…

§ 301. Regulations by superintendent. The superintendent shall have\nthe power to prescribe and from time to time withdraw or amend, in\nwriting, regulations, not inconsistent with the provisions of this\nchapter:\n (a) governing the duties assigned to the members of the staff o…

§ 302. Supervisory colleges. (a) The superintendent may participate in\na supervisory college in order to determine compliance with this chapter\nwith respect to an insurer that is registered under article fifteen,\nsixteen, or seventeen of this chapter and has international ope…

§ 306. Immunity from prosecution. (a) At any hearing conducted\npursuant to this chapter or in any cause or proceeding instituted by the\nsuperintendent pursuant to this chapter, the superintendent, or his\ndeputy or other officer conducting the hearing, cause or proceeding may\…

§ 307. Annual statements; audited financial statements. (a) (1) Every\ninsurer and every fraternal benefit society that is authorized to do an\ninsurance business in this state, and every pension fund, retirement\nsystem or state fund that is required, by any law of this state, …

§ 308. Special reports. (a) (1) The superintendent may also address\nto any health maintenance organization, life settlement provider, life\nsettlement intermediary or its officers, or any authorized insurer or\nrate service organization, or officers thereof, any inquiry in rela…

§ 309. Examinations of insurers; when authorized or required. (a) The\nsuperintendent may make an examination into the affairs of any insurance\ncorporation or other insurer doing or authorized to do any insurance\nbusiness in this state or, of any pension fund, retirement syste…

§ 310. Examinations; how conducted. (a) (1) Whenever pursuant to any\nprovision of this chapter, the superintendent shall determine to examine\nthe affairs of any insurer or other person, he shall make an order\nindicating the scope of the examination and may appoint as examiner…

§ 3101. Simplified comprehensive policies of insurance. Simplified\npolicies of insurance providing broad coverage of all or various\ncombinations of risks may be approved by the superintendent and issued\nby insurers notwithstanding any provision of this chapter, and\nnotwithst…

§ 3102. Requirements for the use of readable and understandable\ninsurance policies. (a) Definitions. In this section "insurance policy"\nmeans any:\n (1) form subject to approval under either section three thousand two\nhundred one or four thousand three hundred eight of this c…

§ 3103. Non-conforming contracts. (a) Except as otherwise specifically\nprovided in this chapter, any policy of insurance or contract of annuity\ndelivered or issued for delivery in this state in violation of any of\nthe provisions of this chapter shall be valid and binding upon…

§ 3104. Contract provisions required by laws of other jurisdictions.\n(a) Any foreign or alien insurer authorized to do business in this state\nmay, with the approval of the superintendent, include in any life,\naccident and health insurance policy or contract of annuity deliver…

§ 3105. Representations by the insured. (a) A representation is a\nstatement as to past or present fact, made to the insurer by, or by the\nauthority of, the applicant for insurance or the prospective insured, at\nor before the making of the insurance contract as an inducement t…

§ 3106. Warranty defined; effect of breach. (a) In this section\n"warranty" means any provision of an insurance contract which has the\neffect of requiring, as a condition precedent of the taking effect of\nsuch contract or as a condition precedent of the insurer's liability\nth…

§ 3107. Sale of insurance policies by vending machine. (a) Any\nprovision in a policy of accident insurance, requiring the signature of\nthe insured, where such insurance is sold by a vending machine, shall be\ninoperative and of no effect, unless a notice shall have been placed…

§ 3108. Reinsurance contracts excepted. The provisions of this article\nshall not apply to contracts of reinsurance, except as otherwise\nprovided by law.\n

§ 3109. False statements in applications for membership in fraternal\nbenefit societies. No applicant, officer, solicitor, examining\nphysician, surgeon or other person shall knowingly or wilfully make any\nfalse or fraudulent statements or representations in or with reference\n…

§ 311. Filing of report on examination. (a) Except as hereinafter\nprovided the superintendent may withhold from public inspection for such\ntime as he deems proper any report on examination made pursuant to\nsection three hundred ten of this article.\n (b) (1) Before adopting a…

§ 3110. Withdrawal of any policy form. (a) Whenever by the provisions\nof this chapter the superintendent is authorized to give approval of any\nform of insurance policy or contract, the superintendent may, after\nnotice and hearing given to the insurer that submitted such form …

§ 3111. Special provisions relating to senior citizens. (a) Every\ninsurer that has in force any policy of insurance subject to the\nprovisions of section three thousand four hundred twenty-five of this\nchapter shall permit senior citizen insureds to designate a third party\nto…

§ 3112. Automatic bank withdrawal agreements; notification required.\nAny insurer licensed to issue insurance in the state who has an\nautomatic bank withdrawal agreement with an insured for the payment of\ninsurance premiums for any type of insurance shall give the insured at\n…

§ 3113. Consent of and notification of an irrevocable beneficiary\nunder a court order of divorce or separation. In any case where a policy\nowner has, pursuant to an order of separation or divorce, designated his\nor her spouse or children as the irrevocable beneficiary of a po…

§ 312. Report on examination to be forwarded. (a) The superintendent\nshall forward to every insurer or other person examined a copy of the\nreport on examination as filed for public inspection, together with any\nrecommendations or statements relating thereto which he may deem …

§ 314. Public retirement and pension systems. (a) In this section,\n"system" means an actuarily funded public retirement or pension system\nof the state of New York or of a municipality thereof.\n (b) Notwithstanding any other provision of law to the contrary, the\nsuperintenden…

§ 315. Professional malpractice or misconduct; reporting requirements.\n(a) Every organization or person authorized to issue professional\nliability insurance policies in this state shall report any disposition,\nwhether by judgment or settlement, of any claim made against an\ni…

§ 316. Electronic filings. Notwithstanding subdivision one of section\nthree hundred five of the state technology law, the superintendent may\npromulgate regulations to require an insurer or other person or entity\nmaking a filing or submission with the superintendent pursuant t…

§ 317. Compliance with reporting requirements of the financial\nsecurity act. Insurers licensed to write personal injury liability\ninsurance in connection with the ownership, maintenance or use of motor\nvehicles, as authorized pursuant to paragraph thirteen of subsection (a)\n…

§ 318. Reports of fire losses; availability of information. (a)\nInsurers shall report all fire losses in excess of five hundred dollars\nor such larger amount as prescribed by the superintendent, arising under\npolicies covering property located in this state to a central\norga…

§ 319. Release of information resulting from insurers' investigation\nof fires. (a) In this section, "authorized law enforcement agency"\nmeans:\n (1) any official of any agency authorized to investigate a fire at the\nplace where the fire occurred;\n (2) the district attorney r…

§ 320. Records to be made available by organizations subject to the\nprovisions of this chapter. (a) Every insurer shall, upon request of the\nstate department of social services or of a local social services\ndistrict for any records, or any information contained in such record…