Expands authorization for certain exemptions from filing requirements for domestic property/casualty insurance companies.
This bill amends the insurance law to expand the authorization for certain exemptions from filing requirements for domestic property/casualty insurance companies. Specifically, it allows exemptions for companies that maintain a surplus to policyholders of at least twice the minimum required and have total direct premiums comprised of at least ninety percent medical malpractice insurance. The changes are set to take effect immediately.
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