Extends exemptions from regulatory requirements for large, commercial insureds until June 30, 2027.

New York S08343 amends the insurance law to extend certain exemptions from regulatory requirements for large, commercial insureds. Specifically, it extends the exemption for domestic property/casualty insurance companies and reciprocal insurers until June 30, 2027. These exemptions apply to companies that maintain a surplus to policyholders of at least twice the minimum required for the kinds of insurance they write in the state. The act takes effect immediately.

Extends exemptions from regulatory requirements for large, commercial insureds until June 30, 2027.

New York S08343 amends the insurance law to extend certain exemptions from regulatory requirements for large, commercial insureds. Specifically, it extends the exemption for domestic property/casualty insurance companies and reciprocal insurers until June 30, 2027. These exemptions apply to companies that maintain a surplus to policyholders of at least twice the minimum required for the kinds of insurance they write in the state. The act takes effect immediately.