New York S10080 mandates a review of existing insurance benefits and their impact on premiums, and a cost analysis for new benefits before.

New York S10080 amends the financial services law to require the superintendent of financial services to review mandated benefits in effect as of December 31, 2025, and their impact on insurance premiums. The superintendent must issue a report detailing the costs of these mandates. Additionally, the bill mandates a cost analysis of any new legislation that would mandate insurance benefits, to be completed before such legislation is adopted. New legislation cannot take effect until this cost analysis is finished and made public.

New York S10080 mandates a review of existing insurance benefits and their impact on premiums, and a cost analysis for new benefits before.

New York S10080 amends the financial services law to require the superintendent of financial services to review mandated benefits in effect as of December 31, 2025, and their impact on insurance premiums. The superintendent must issue a report detailing the costs of these mandates. Additionally, the bill mandates a cost analysis of any new legislation that would mandate insurance benefits, to be completed before such legislation is adopted. New legislation cannot take effect until this cost analysis is finished and made public.