reglab/statecodes huggingface dataset:
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3433 - Termination of Contracts or Accounts of Licensed Agents or Brokers; Prohibition; Geographical Location.

§  3433.  Termination  of  contracts or accounts of licensed agents or
brokers;  prohibition;  geographical  location.  (a)  No  insurer  shall
terminate  or  refuse to renew a contract or account of a licensed agent
or broker who negotiated policies of:
(1) fire insurance or fire and extended coverage insurance or
(2) automobile  insurance  subject  to  section  three  thousand  four
hundred  twenty-five of this article when such termination or refusal to
renew is based solely on the  geographical  location  of  the  agent  or
broker or of the risks for which coverage is afforded through such agent
or broker.
(b)  The  superintendent  shall  by  regulation  establish  procedures
requiring notification to  such  agents  or  brokers  of  the  insurer's
specific  reason  or  reasons  for  termination  or refusal to renew the
agent's or broker's contract or account.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3434 - Motor Vehicle Insurance Policies; Disabled Persons; Prohibitions Against Cancelling, Refusing to Issue or Renew Policies.

§   3434.   Motor   vehicle   insurance  policies;  disabled  persons;
  prohibitions against cancelling, refusing to issue  or  renew  policies.
  Insurers  shall  be  prohibited  from cancelling or refusing to issue or
  renew a motor vehicle insurance policy to any person with a  disability,
  as  defined  in subdivision twenty-one of section two hundred ninety-two
  of the executive law, unless based on sound underwriting  and  actuarial
  principles reasonably related to actual or anticipated loss experience.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3435 - Group Property/casualty Insurance.

§ 3435. Group property/casualty insurance.
(a)  This section shall apply to public entities as defined in section
one hundred seven of this chapter, organizations  described  by  section
501(c)(3)  of  the  United  States  internal  revenue  code,  charitable
corporations as defined in paragraph (a)  of  section  one  hundred  two
(Definitions)  of the not-for-profit corporation law and formed pursuant
to paragraph (a) of  section  two  hundred  one  of  the  not-for-profit
corporation  law,  and  organizations  described  by section two hundred
sixteen-a of the education law.
(b)  Notwithstanding  any  other  provision  of  this  chapter,  group
coverage for homogeneous groups formed for purposes other than obtaining
insurance  may  be approved, subject to regulations to be promulgated by
the superintendent, for the kinds of insurance permitted  in  subsection
(c)  of  this  section, provided such policies shall be available to all
eligible members of such group upon application.
(c) Group policies may be written pursuant to this section for any  of
the  kinds  of  insurance  authorized  by  subsection (a) of section one
thousand one hundred thirteen of  this  chapter,  except  the  kinds  of
insurance  authorized by paragraphs one, two, three, sixteen, seventeen,
eighteen, twenty-one, twenty-two, twenty-three and twenty-five  of  such
subsection.
(d)  Group  policies  approved  pursuant  to this section shall not be
eligible for the filing exemptions specified  in  section  six  thousand
three hundred one of this chapter.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3435-A - Motor Vehicle Insurance Policies; New York State Licensed Drivers; Prohibitions Against Refusing to Issue Policies or Renew Policies.

§  3435-a.  Motor  vehicle insurance policies; New York state licensed
drivers; prohibitions  against  refusing  to  issue  policies  or  renew
policies.
(a)  Insurers  shall be prohibited from refusing to issue a
motor vehicle liability insurance policy to any person with a valid  New
York state driver's license which has been maintained by such person for
at  least  thirty-nine  months prior to the time of application for such
policy of insurance solely on the basis that such person has  not  owned
or leased a vehicle during such period, unless such decision is based on
sound underwriting and actuarial principles reasonably related to actual
or  anticipated  loss  experience.  Provided, however, that an applicant
demonstrating  a  continuous,  valid  out-of-state   or   out-of-country
driver's  license  during  such  thirty-nine  month period due to active
service in the United States army, navy, air force, or marines shall  be
treated  as  if continuous licensing had been maintained in New York and
such person shall not be rejected based solely on the fact  that  he  or
she served in the military.
(b)  Insurers  shall  be prohibited from refusing to renew an existing
motor vehicle liability insurance policy solely upon the  basis  of  the
named  insured having reached sixty years of age and shall be prohibited
for the purpose of policy renewal from requesting a physical examination
or medical questionnaire solely on the basis of the named insured having
reached sixty years of age  unless  such  decision  is  based  on  sound
underwriting  and  actuarial  principles reasonably related to actual or
anticipated loss experience.
(c) Insurers shall be prohibited from refusing to  renew  an  existing
motor  vehicle  liability  insurance policy solely upon the basis of the
age of the motor vehicle to be insured unless such decision is based  on
sound underwriting and actuarial principles reasonably related to actual
or anticipated loss experience.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3436-A - Adverse Action Against Legal Reproductive Health Care or Gender Affirming-Care.

§  3436-a.  Adverse  action  against legal reproductive health care or
gender-affirming care.  (a) Every insurer that issues or renews  medical
malpractice  insurance  covering  a  health  care  provider  licensed to
practice in this state shall  be  prohibited  from  taking  any  adverse
action  against  a  health  care  provider  solely on the basis that the
health care provider engages in legally protected  health  activity,  as
defined  in  paragraph  (b)  of subdivision one of section 570.17 of the
criminal  procedure  law,  or  gender-affirming  care,  as  defined   in
paragraph   (c)   of  subdivision  one  of  section  sixty-five  hundred
thirty-one-b of the education law, that is  legal  in  this  state  with
someone  who  is  from out of the state. The superintendent is expressly
authorized to interpret "legally protected health activity" as  if  such
definition  was  stated  within this section.  Such policy shall include
health care providers who prescribe abortion medication to  out-of-state
patients by means of telehealth.
(b)  Every insurer that issues or renews medical malpractice insurance
covering a health care provider licensed to practice in this state shall
be prohibited from refusing to issue or renew, canceling, or charging or
imposing an increased premium  or  rate  for,  or  excluding,  limiting,
restricting,  or reducing coverage under a medical malpractice insurance
policy based solely upon the legal use or prescription in this state  of
any  drug  prescribed  for  the  purpose  of an abortion, including both
generic and brand name drugs, that has not been approved by the food and
drug administration for abortion,  provided,  however,  that  such  drug
shall  be  a  recognized medication for abortion in one of the following
established reference compendia:
(1) The WHO Model Lists of Essential Medicines;
(2) The WHO Abortion Care Guidance; or
(3) The National  Academies  of  Science,  Engineering,  and  Medicine
Consensus Study Report.
(c)  As  used  in this section, "adverse action" shall mean but not be
limited to: (1) refusing to renew or execute  a  contract  or  agreement
with  a  health  care  provider; (2) making a report or commenting to an
appropriate private or governmental entity regarding practices  of  such
provider  which  may  violate  abortion  laws  in  other states; and (3)
increasing in any charge  for,  or  a  reduction  or  other  adverse  or
unfavorable  change  in the terms of coverage or amount for, any medical
malpractice insurance contract or agreement with a health care provider.
(d) As used in this section,  "medical  malpractice  insurance"  shall
have  the meaning set forth in section five thousand five hundred one of
this chapter.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3443 - Workers' Compensation and Employers' Liability Insurance; Optional Policyholder Deductibles.

§  3443.  Workers'  compensation  and  employers' liability insurance;
optional policyholder  deductibles.    An  insurer  issuing  a  workers'
compensation  and  employers'  liability insurance policy, may offer, as
part of the policy  or  by  endorsement,  deductibles  optional  to  the
policyholder  for benefits payable under the policy, subject to approval
by the superintendent  and  subject  to  underwriting  by  the  insurer,
consistent with the following standards or factors:
(a)  claimants'  rights are properly protected and claimants' benefits
are paid without regard to any such deductible;
(b) appropriate premium reductions reflect the type and level  of  any
deductible   approved   by   the  superintendent  and  selected  by  the
policyholder;
(c)  premium  reductions  for  deductibles   are   determined   before
application  of  any  experience  modification,  premium  surcharge,  or
premium discount;
(d) recognition is given to  policyholder  characteristics,  including
size,  financial  capabilities,  nature  of  activities,  and  number of
employees;
(e) if the policyholder selects  a  deductible,  the  policyholder  is
liable  to  the  insurer for the deductible amount in regard to benefits
paid for compensable claims;
(f) the insurer pays all of the deductible  amount,  applicable  to  a
compensable  claim,  to  the person or provider entitled to benefits and
then seeks  reimbursement  from  the  policyholder  for  the  applicable
deductible amount; and
(g) failure to reimburse deductible amounts by the policyholder to the
insurer  is treated under the policy in the same manner as nonpayment of
premiums.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3444 - Flood Insurance Notice.

§  3444.  Flood  insurance  notice. 1. Insurers shall provide to their
  homeowners and dwelling fire personal lines insureds  an  annual  notice
  prescribed  or approved by the superintendent, explaining clearly and in
  plain language that: (a) such policies do not provide coverage for  loss
  caused  by  mudslide  or  flood;  and  (b)  insurance is available under
  separate policies issued in accordance with the National Flood Insurance
  Program, 42 U.S.C. § 4001 et seq., including information regarding flood
  insurance eligibility and access.
2. The policyholder notice required by this  section  shall  accompany
  all  new  homeowners  and  dwelling fire personal lines policies and all
  renewal homeowners and dwelling fire policies.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3445 - Windstorm Insurance Notice.

§  3445.  Windstorm  insurance  notice.  The  superintendent  shall by
  regulation  establish  disclosure  requirements  with  respect  to   the
  operation  of  any  deductible  in  a  homeowner's  insurance  policy or
  dwelling fire personal lines policy which applies as  the  result  of  a
  windstorm.  Such  regulations shall prescribe the form of a notice to be
  provided by an insurer to an insured. The notice shall explain in  clear
  and plain language the amount of the deductible, the circumstances under
  which   the   deductible   applies  and  any  other  matters  which  the
  superintendent, in his  or  her  discretion,  shall  deem  necessary  or
  appropriate.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3447 - Qualification of Environmental Remediation Insurance for Tax Credit.

§  3447.  Qualification of environmental remediation insurance for tax
credit.  (a)  The  superintendent  of  financial  services   is   hereby
authorized  to  promulgate  regulations relating to the certification of
policies of insurance which qualify for  the  environmental  remediation
insurance  tax credit provided for under section twenty-three of the tax
law. Such tax credit shall only apply against a portion of  the  premium
paid for coverage provided under subsection (b) of this section.
(b)  In  order  to qualify for the environmental remediation insurance
tax credit provided for under section twenty-three of the tax  law,  the
insurance  must  be  written  pursuant  to  the  provisions of paragraph
thirteen or fourteen of subsection  (a)  of  section  one  thousand  one
hundred  thirteen  of  this  chapter  and  contain  any of the following
coverages  or  substantially  similar  coverages   or   combination   of
coverages:
(1)  coverage  for  the  costs  of  on-site  clean-up  of pre-existing
pollution conditions from the insured property  which  are  outside  the
scope  of  the  remedial  work  plan  pursuant to section 27-1411 of the
environmental conservation law for such insured property;
(2) coverage for third-party claims  for  on-site  bodily  injury  and
property damage resulting from pre-existing pollution conditions outside
the scope of such remedial work plan for the insured property;
(3)  coverage which caps clean-up costs relating to such remedial work
plan; and
(4) coverage for the costs of state  re-openers  pursuant  to  section
27-1421  of  the environmental conservation law or modifications to such
remedial work plan to fill any gap in any liability limitation  provided
pursuant  to  section  27-1421 of the environmental conservation law for
environmental conditions.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3448 - Involuntary Unemployment Insurance Policies.

§  3448.  Involuntary  unemployment  insurance  policies.  (a) In this
section,  the  term  "policy  of  involuntary  unemployment   insurance"
includes  any  policy  covering  the  kind  of  insurance  described  in
paragraph thirty of subsection (a) of section one thousand  one  hundred
thirteen of this chapter.
(b)  A  policy  of  involuntary  unemployment  insurance  shall not be
subject to section three thousand  four  hundred  twenty-five  or  three
thousand four hundred twenty-six of this article.
(c)   The   superintendent   may   promulgate   regulations  regarding
involuntary unemployment insurance policies, including, but not  limited
to, regulations governing policy terms and conditions, and may establish
other reasonable limitations.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3450 - Insurance for Expenses Incurred as a Result of an Act or Threatened Act of Violence.

§  3450.  Insurance  for  expenses  incurred  as a result of an act or
threatened act of violence. (a) Insurance authorized by subparagraph (D)
of paragraph seven of subsection (a) of section one thousand one hundred
thirteen of this chapter  may  be  written  only  as  provided  in  this
section,  except  for  ransom or reward payment coverage incurred as the
result of the theft of property.
(b) As part of a homeowners' insurance policy, as such term is defined
in section two thousand three hundred  fifty-one  of  this  chapter,  or
motor  vehicle  physical damage insurance policy, an insurer may provide
insurance for loss to any person as the result of an act  or  threatened
act of violence against an insured person.
(c) For purposes of this section, an "insured person" may include:
(1) with respect to a homeowners' policy, a member of the household, a
minor  under  the custody or care of the named insured, or a minor child
of the named insured, regardless of where  the  act  or  threatened  act
occurs;  or  a  person  on  the  insured premises, or any other premises
within the temporary control of the  named  insured,  or  in  a  vehicle
owned, operated, leased or rented by the named insured.
(2)  with  respect  to a motor vehicle policy, a person engaged in the
lawful use or operation of the vehicle.
(d) "Loss" for purposes of this section shall include loss  or  damage
to  property;  reimbursement  of  a  deductible  under another policy of
property/casualty  insurance;  ransom  or  reward  payment;  travel  and
lodging  expense;  lost  wages; expense incurred to locate or identify a
missing or abducted insured person; or other expenses to  respond  to  a
violent act or threatened act or to prevent a reoccurrence thereof.
(e)  A  policy written pursuant to this section providing coverage for
loss to any person as the result of an act or threatened act of violence
against an insured person may also provide coverage for medical expenses
to any such person incurred as a result of the act or threatened act  of
violence.  For  purposes  of  this subsection, coverage for such medical
expenses shall be deemed included in  medical,  hospital,  surgical  and
disability  benefits  to injured persons, and funeral and death benefits
to dependents, beneficiaries or personal representatives of persons  who
are killed, irrespective of legal liability of the insured as authorized
by  paragraph  thirteen  of  subsection  (a) of section one thousand one
hundred thirteen of this chapter.
(f)  The  superintendent  may  promulgate  regulations  necessary   to
effectuate the purposes of this section.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3451*2 - Regulations.

* §  3451.  Regulations.  Notwithstanding  any other provision of this
  article or article twenty-three of this  chapter,  and  subject  to  the
  superintendent's approval of the rates and forms in accordance with such
  article,  the  superintendent  may promulgate regulations authorizing an
  insurer licensed to write workers' compensation and employers' liability
  insurance, as defined in paragraph fifteen of subsection (a) of  section
  one  thousand  one hundred thirteen of this chapter, to provide coverage
  as afforded under article six-G of the executive  law  in  a  manner  to
  effectuate the intent and purposes of such article.
* NB There are 2 § 3451's
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3456 - Prohibition Against Cancellation of Policy When Motor Vehicle Is Used or Operated Through a Transportation Network Company Program.

§  3456. Prohibition against cancellation of policy when motor vehicle
is used or operated through a transportation  network  company  program.
(a)  An  insurer  shall  not  cancel an existing motor vehicle insurance
policy solely on the  basis  that  the  motor  vehicle  covered  by  the
insurance  has  been made available pursuant to a transportation network
company program in compliance with article forty-four-B of  the  vehicle
and traffic law.
(b)  The  definitions set forth in section three thousand four hundred
fifty-five of this article shall apply to this section.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3459 - Car Share Exclusions for Motor Vehicle Insurance Policies.

§ 3459. Car share exclusions for motor vehicle insurance policies. (a)
The  definitions  set  forth  in  section  three  thousand  four hundred
fifty-eight of this article shall apply to this section.
(b) Notwithstanding any other provision of law to  the  contrary,  the
shared  vehicle  owner's  policy  of  liability insurance or other motor
vehicle insurance may exclude any and all coverage  afforded  under  the
policy issued to the shared vehicle owner for any loss, death, or injury
that occurs during the car sharing period including:
(1) liability coverage for bodily injury and property damage;
(2) coverage provided pursuant to article fifty-one of this chapter;
(3) uninsured motorist coverage;
(4) supplementary uninsured/underinsured motorist coverage; and
(5)  motor  vehicle physical damage coverage as described in paragraph
nineteen of subsection (a) of section one thousand one hundred  thirteen
of this chapter.
(c)  The shared vehicle owner's motor vehicle insurer shall notify the
shared vehicle owner that there is no duty to defend  or  indemnify  any
person  or  entity for the liability for any loss, death, or injury that
shall occur during the peer-to-peer car sharing period.
(d) Nothing in this article shall invalidate  or  limit  an  exclusion
contained  in  a motor vehicle insurance policy, including any insurance
policy in use or approved for use that shall exclude coverage for  motor
vehicles made available for rent, sharing, hire or any business use.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3460 - Prohibition Against Cancellation of Policy When Motor Vehicle Is Used or Operated Through a Peer-to-Peer Car Sharing Program.

§  3460. Prohibition against cancellation of policy when motor vehicle
is used or operated through a peer-to-peer car sharing program.  (a)  An
insurer  shall  not  cancel  an  existing motor vehicle insurance policy
solely on the basis that the motor  vehicle  covered  by  the  insurance
policy  has  been  made available pursuant to a peer-to-peer car sharing
program in compliance with article forty of the general business law.
(b) The definitions set forth in section three thousand  four  hundred
fifty-eight of this article shall apply to this section.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3461 - Notice of Claim.

§ 3461. Notice of claim. (a) For purposes of article fifty-one of this
chapter,  11 NYCRR Part 65 and general liability claims, notice of claim
to the shared vehicle owner, shared  vehicle  driver,  peer-to-peer  car
sharing  program  administrator,  or  any  insurer of the shared vehicle
owner, shared  vehicle  driver,  or  peer-to-peer  car  sharing  program
administrator  shall  be  deemed  notice  to all appropriate parties and
insurers.
(b) Any shared vehicle owner, shared vehicle driver, peer-to-peer  car
sharing  program  administrator,  or  any  insurer of the shared vehicle
owner, shared  vehicle  driver,  or  peer-to-peer  car  sharing  program
administrator  receiving  such  notice  shall provide such notice to all
appropriate parties.
(c) The definitions set forth in section three thousand  four  hundred
fifty-eight of this article shall apply to this section.
2023 New York Laws › ISC - Insurance › Article 34 - Insurance Contracts-Property/casualty › 3462 - Affordable Housing Underwriting and Rating.

§  3462.  Affordable  housing  underwriting and rating. (a) An insurer
that issues or delivers in this state a  policy  of  insurance  covering
loss  of  or  damage  to  real property containing units for residential
purposes or legal liability of an owner of such real property, shall not
inquire about on an application, nor shall an insurer cancel, refuse  to
issue,  refuse to renew or increase the premium of a policy, or exclude,
limit, restrict, or  reduce  coverage  under  a  policy  based  on,  the
following:
(1)  The  residential  building  contains dwelling units that shall be
affordable to residents  at  a  specific  income  level  pursuant  to  a
statute,  regulation,  restrictive  declaration, or regulatory agreement
with a local, state, or federal government entity;
(2) The real property owner or tenants of such residential building or
the shareholders of a cooperative  housing  corporation  receive  rental
assistance  provided  by  a  local, state, or federal government entity,
including, but not limited to, the receipt of  federal  vouchers  issued
under section eight of the United States Housing Act of 1937(42 U.S.C. §
1437f);
(3)  The  level  or source of income of the tenants of the residential
building or the shareholders of a cooperative housing corporation; or
(4) Whether such residential building is  owned  by  a  limited-equity
cooperative;  owned  by  a  public  housing  authority;  or  owned  by a
cooperative housing corporation subject to  the  provisions  of  article
two, article four, article five or article eleven of the private housing
finance law.
(b)  Nothing in this section shall prohibit an insurer from canceling,
refusing to issue, refusing to renew, or increasing the premium  of,  an
insurance  policy,  or  excluding,  limiting,  restricting,  or reducing
coverage under such policy, due to other factors that are  permitted  or
not prohibited by any other section of this chapter.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4101 - Definitions.

§  4101.  Definitions. In this article: (a) "Basic kinds of insurance"
means the kinds of insurance described in the  following  paragraphs  of
subsection  (a)  of  section  one  thousand one hundred thirteen of this
chapter numbered therein as set forth in parentheses below:
fire (4);
burglary and theft (7);
glass (8);
boiler and machinery (9);
elevator (10);
animal (11);
personal injury liability (13);
property damage liability (14) - basic as to stock companies only;
workers' compensation and employers' liability (15);
fidelity and surety (16);
credit (17);
marine and inland marine (20);
marine protection and indemnity (21) - basic as  to  mutual  companies
only.
(b)  "Non-basic  kinds  of  insurance"  means  the  kinds of insurance
described in the following paragraphs of subsection (a) of  section  one
thousand  one  hundred  thirteen of this chapter numbered therein as set
forth in parentheses below:
accident and health (item (i) of (3));
non-cancellable disability (item (ii) of (3));
miscellaneous property (5);
water damage (6);
collision (12);
property damage liability (14) -  non-basic  as  to  mutual  companies
only;
motor vehicle and aircraft physical damage (19);
inland marine as specified in marine and inland marine (20);
marine protection and indemnity (21) - non-basic as to stock companies
only;
residual value (22);
credit unemployment (24);
gap (26);
prize indemnification (27);
service contract reimbursement (28);
legal services insurance (29);
involuntary unemployment insurance (30);
salary protection insurance (31);
donor medical expense insurance (32);
excess business disability insurance (33).
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4106 - Stock Companies; Participating Policies.

§   4106.   Stock   companies;   participating   policies.   A   stock
  property/casualty insurance company authorized to do  business  in  this
  state  may  include  in its charter a provision authorizing the board of
  directors to permit its policyholders from time to time  to  participate
  in  the  profits  of  its operations through the payment of dividends to
  policyholders.  For the purpose of carrying into effect this  provision,
  the   board   of  directors  may  from  time  to  time  make  reasonable
  classifications of policies.  Every such classification of  risks  shall
  be  filed  with  the  superintendent  and  shall  not be effective as to
  policies issued or delivered  in  this  state  unless  approved  by  the
  superintendent  as  fair  and equitable and not unfairly discriminatory.
  Any classification approved by the superintendent shall remain in effect
  in this state until disapproved by him or until  withdrawn  or  modified
  with  his  approval  by  the  company  filing  the same. No dividends to
  policyholders shall be declared or paid by any such company  except  out
  of  its  earned  surplus  as  defined  in subsection (a) of section four
  thousand one hundred five of this article.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4108 - Foreign and Alien Mutual Companies; Licensing.

§  4108. Foreign and alien mutual companies; licensing. (a) No foreign
or alien mutual property/casualty insurance company shall be  granted  a
license  to  do  business in this state unless it substantially complies
with all of the requirements set forth in this chapter  for  a  domestic
mutual  property/casualty  insurance  company licensed to write the same
kind or kinds of insurance.
(b) No alien  mutual  property/casualty  insurance  company  shall  be
authorized  to  do business in this state unless it maintains a trusteed
surplus, as required by section one thousand  three  hundred  twelve  of
this chapter, at least equal to the surplus to policyholders required to
be  maintained  by  a domestic stock property/casualty insurance company
licensed to write the same kind or kinds of insurance.
(c) The financial requirements specified in subsections  (a)  and  (b)
hereof  shall  be reduced by fifty percent for a foreign or alien mutual
property/casualty insurance company initially licensed to do business in
this state prior to July first, nineteen hundred  eighty-two,  but  such
reduction  shall  not  apply to such a foreign or alien insurer licensed
under subsection (c) of section four thousand one hundred  two  of  this
article to reinsure risks or write insurance on risks outside the United
States,  its  territories and possessions. Such reduction shall also not
apply to the amounts required in order to  write  paragraph  twenty-two,
twenty-four  or twenty-six of subsection (a) of section one thousand one
hundred thirteen of this chapter.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4110 - Domestic Mutual Companies; Expense Limits.

§  4110.  Domestic  mutual  companies; expense limits. (a) No domestic
mutual property/casualty insurance company licensed to write a  kind  of
insurance  specified  in  paragraph  seven,  eight,  nine,  ten, eleven,
thirteen, fourteen, fifteen, sixteen or seventeen of subsection  (a)  of
section  one  thousand one hundred thirteen of this chapter shall expend
in any one calendar year for management expenses a greater  amount  than
thirty  percent  of  the  sum of its net premium income and seventy-five
percent of its investment  income  for  such  year;  provided  that  any
insurer   whose  principal  line  of  business  is  medical  malpractice
liability insurance or any insurer who is the subject  of  a  proceeding
pursuant to article seventy-four of this chapter shall not expend in any
one  calendar year for management expenses, a greater amount than thirty
percent of its net premium income for  such  year.  Management  expenses
shall  be  held  to  include all expenses of the company except expenses
incurred in the investigation,  adjustment  and  settlement  of  claims,
taxes, fees and expenses of examination, and taxes, repairs and expenses
on  real  estate.  In  applying  the  provisions of this section the net
premium income of, and expenses of, boiler and  machinery  insurance  or
elevator insurance shall not be included. In the event expenses incurred
in  making  a  new system upgrade result in this subsection's management
expenses limit  being  exceeded,  then  the  insurer  shall  inform  the
superintendent  sixty  days  in  advance  of  the  expense  limit  being
exceeded. Subject to approval by the superintendent, the limit shall  be
temporarily  raised to the amount necessary to encompass the aforestated
new system upgrade, provided that in no event shall the limit be  raised
more  than  five  percentage  points and shall not be in effect for more
than three years, and provided further that an insurer may submit to the
superintendent, for  the  superintendent's  prior  approval,  a  written
request  to  temporarily  raise  the limit for up to an additional three
years, for a total of no more than six years. An  insurer  shall  submit
such  written  request to the superintendent at least sixty days but not
more than one hundred twenty days before the expiration of  the  initial
period during which the limit was raised. The insurer shall not increase
premiums  solely  as a result of the management expenses cap limit being
exceeded. For purposes of this  subsection,  a  new  system  upgrade  is
defined  as  the acquisition of electronic data processing apparatus and
related equipment constituting a  data  processing,  record  keeping  or
accounting system and operating and non-operating software.
(b)  Subsection  (a)  hereof  shall  not  apply  to  a  mutual company
organized before the effective date of this chapter as a domestic mutual
fire or marine or marine protection and indemnity company.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4112 - Mutual Companies; Protection Against Assessments.

§  4112. Mutual companies; protection against assessments. No domestic
  mutual  property/casualty  insurance   company   and   no   officer   or
  representative thereof shall make any contract whether on behalf of such
  company  or  of  all or any of its policyholders, whereby the company or
  the policyholders are insured or indemnified against the  imposition  or
  payment of assessments which may be made upon members of the company, if
  the contract is cancellable or otherwise terminable by any party thereto
  upon the giving of notice of cancellation or termination within a period
  of  less  than one year before the effective date of the cancellation or
  termination.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4113 - Mutual Companies; Non-Assessable Policies.

* § 4113.  Mutual companies; non-assessable policies. (a) Every mutual
property/casualty  insurance  company  licensed  to  do business in this
state, if its charter or by-laws permit or are  amended  to  permit  the
issuance   of  policies  without  contingent  mutual  liability  of  the
policyholder  for  assessment,  may   with   the   permission   of   the
superintendent   issue   non-assessable  policies  in  this  state  upon
compliance with the following requirements:
(1) It shall maintain a surplus, as determined from its  latest  filed
statement,  which  together  with  its unearned premium reserve from its
latest filed statement is at least equal to the surplus to policyholders
required  to  be  maintained  by  a  domestic  stock   property/casualty
insurance company licensed to write the same kind or kinds of insurance.
(2)  It  shall  have  submitted  a copy of its proposed non-assessable
policy or policies for approval of the superintendent,  and  shall  have
obtained his approval.
(b)  Every  policy  issued  by  any  such  company shall clearly state
whether or not the holder of the policy is subject to  a  liability  for
assessment.
(c)  Any  surplus  required for the purposes specified in this section
shall be inclusive of any surplus required by any other sections of this
chapter.
(d) A mutual property/casualty insurance company subject to  paragraph
two of subsection (a) of section four thousand one hundred seven of this
article  and  subject  to  subsection  (d)  of section four thousand one
hundred eleven of this article  may  with  the  prior  approval  of  the
superintendent  amend  its charter and by-laws to permit the issuance of
policies without contingent mutual liability of the policyholder and may
with the permission of the superintendent issue non-assessable  policies
in this state upon compliance with the requirements of this section.
(e) The financial requirement specified in paragraph one of subsection
(a)   hereof   shall   be   reduced   by  fifty  percent  for  a  mutual
property/casualty insurance company initially licensed to do business in
this state prior to July first, nineteen hundred eighty-two.
* SPECIAL NOTE.--Notwithstanding that Chapter 585 of the Laws of 1984:
Bill sections 2, 3, 5, 6, 7, and 9 of such chapter amend provisions of
the former Insurance Law that are not possible to juxtapose at this time
due to the highly technical nature of such changes and will need  future
corrective  legislation  to  implement  such  provisions  into  the  new
Insurance Law as enacted by such Chapter 367 of the Laws of 1984.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4114 - Mutual Companies; Dividends.

§  4114.  Mutual  companies;  dividends.  The  board of directors of a
  mutual property/casualty insurance company may from time to time fix and
  determine an amount to be declared and paid as a dividend or as a return
  of unused or  unabsorbed  premiums  or  premium  deposits  on  policies,
  retaining  such  sums  as  they  may  deem necessary to meet outstanding
  policy obligations and for the maintenance of reserves  and  surplus  as
  herein  provided.  The  determination,  declaration  and payment of such
  dividend shall be subject to section one thousand two hundred eleven  of
  this  chapter.  In declaring any dividend to policyholders, the board of
  directors may make reasonable classifications of  policies.  Every  such
  classification  shall  be  filed  with  the superintendent and shall not
  become  effective  unless  approved  by  the  superintendent  as   fair,
  equitable,   not   impracticable   in   operation   and   not   unfairly
  discriminatory. Any such classification approved by  the  superintendent
  shall  remain in effect until disapproved by the superintendent or until
  withdrawn with the superintendent's approval by the company  filing  the
  same.  The  requirements  as  to  filing and approval, as applied to any
  foreign or alien mutual property/casualty insurance company, shall apply
  only to risks located or resident in this state.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4115 - Certain Mutual Companies Existing Prior to January First, Nineteen Hundred Forty.

§  4115.  Certain  mutual  companies  existing prior to January first,
nineteen hundred forty. (a) Notwithstanding the provisions  of  sections
four thousand one hundred eleven, four thousand one hundred thirteen and
four  thousand one hundred fourteen of this article, any domestic mutual
property/casualty insurance company heretofore organized as  a  domestic
mutual marine and fire insurance company under special act of this state
and reincorporated pursuant to former section fifty-two of the insurance
law  in  effect immediately before January first, nineteen hundred forty
and doing business immediately prior to such date, may continue to issue
non-assessable policies in accordance with its charter  powers,  without
making any deposit, if and so long as it maintains a surplus of not less
than one million dollars.
(b)  Notwithstanding  the  provisions  of  sections  one  thousand two
hundred nine and one thousand two hundred eleven  of  this  chapter  and
section  four  thousand  one  hundred fourteen of this article, any such
domestic mutual insurance company of the kind  specified  in  subsection
(a)   hereof,   may   continue   to   issue   both   participating   and
non-participating policies or contracts of insurance, in accordance with
its charter, and may continue to exercise its existing charter powers as
to the qualification of its members and trustees and as to the  election
and powers of its board of trustees.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4116 - Domestic Mutual Companies; Voting Rights of Members.

§  4116.  Domestic  mutual  companies;  voting  rights of members. The
  charter or by-laws of any domestic  mutual  property/casualty  insurance
  company may, with the approval of the superintendent pursuant to section
  one  thousand  two  hundred  nine  of  this  chapter,  provide  for  the
  distribution of voting power, at all meetings of the corporation,  among
  the  members on the basis of the amount of insurance held, the number of
  policies held, or the amount of premiums paid, by the member or  on  any
  other basis which the superintendent finds to be fair and equitable; but
  in any event every member whose insurance is in force at the time of the
  election  shall be entitled to at least one vote, and no member shall be
  entitled to more than ten votes.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4119 - Foreign and Alien Companies; License Qualification.

§ 4119. Foreign and alien companies; license qualification. No foreign
  or  alien  property/casualty  insurance  company shall be licensed to do
  business in this state unless it shall have continuously  transacted  an
  insurance  business  in the state or country of its incorporation for at
  least three years immediately prior to the issuance of such license. The
  superintendent may waive or reduce  the  three  year  requirement,  with
  respect  to  a license applicant, upon determination that the three year
  period is not necessary to safeguard the  interests  of  the  public  or
  policyholders.
2023 New York Laws › ISC - Insurance › Article 41 - Property/casualty Insurance Companies › 4121 - Security May Be Required From Banking Officers and Employees.

§  4121. Security may be required from banking officers and employees.
(a) The board of directors or trustees  of  each  bank,  trust  company,
savings bank or savings and loan associations in this state, may require
from  each  officer  and employee thereof an individual fidelity bond in
favor of the institution in an amount and form approved by such board of
directors or trustees.
(b) Such bond shall be accepted only from a corporation authorized  to
issue  fidelity  bonds  and  doing  business  in  this  state  under the
authority of the department.
(c) The premium for such bond may be paid as a  necessary  expense  of
any such banking institution.
2023 New York Laws › ISC - Insurance › Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies › 4203 - Transfer of Shares of Domestic Life Insurance Company.

§  4203. Transfer of shares of domestic life insurance company. (a) No
shareholder of a domestic life insurance company shall vote  his  shares
until  the  earlier  of (i) ten days after written notice of acquisition
thereof has been filed with the superintendent, or (ii) one  year  after
the date of acquisition thereof.
(b)  This  section  shall  apply  only to shares acquired after such a
company has been licensed under this chapter.
2023 New York Laws › ISC - Insurance › Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies › 4204 - Financial Requirements for the Organization of Stock Accident and Health Insurance Companies and Stock Legal Services Insurance Companies.

§  4204. Financial requirements for the organization of stock accident
and health  insurance  companies  and  stock  legal  services  insurance
companies.  (a)  (1)  A  stock  company  may  be organized in the manner
prescribed in section one thousand two hundred one and subsection (e) of
section one thousand one hundred two of this chapter and licensed to  do
only  the  kind of insurance business specified in item (i) of paragraph
three of subsection (a) of section one thousand one hundred thirteen  of
this  chapter,  with  a  paid-in  capital  of  not less than one hundred
thousand dollars, and a paid-in surplus at least equal to fifty  percent
of  its  capital.  Every  such  company  shall  at  all times thereafter
maintain a minimum capital of one hundred thousand dollars.
(2) Notwithstanding the foregoing, any such  stock  company  initially
licensed  on or after July first, nineteen hundred eighty-two shall have
a paid-in capital of not less than two hundred thousand  dollars  and  a
paid-in surplus at least equal to fifty percent of its capital and shall
at all times maintain a minimum capital of at least two hundred thousand
dollars.
(b)  (1)  Any company organized under the provisions of subsection (a)
of this section may be licensed to do the  kind  of  insurance  business
specified  in  item  (ii)  of paragraph three, paragraph twenty-nine and
paragraph thirty-one of subsection  (a)  of  section  one  thousand  one
hundred  thirteen  of  this  chapter, if it has a paid-in capital of not
less than one hundred fifty thousand  dollars,  and  a  paid-in  initial
surplus  at  least  equal  to  fifty  percent of its capital. Every such
company shall at all times maintain a minimum  capital  of  one  hundred
fifty thousand dollars.
(2)  Notwithstanding  the foregoing provisions of this subsection, any
such company initially licensed on or after July first, nineteen hundred
eighty-two shall have a paid-in capital of not less than  three  hundred
thousand  dollars  and a paid-in surplus at least equal to fifty percent
of its capital and shall at all times maintain a minimum capital  of  at
least three hundred thousand dollars.
(c)  A stock company may be organized to do only the kind of insurance
specified in paragraph twenty-nine of  subsection  (a)  of  section  one
thousand  one  hundred  thirteen of this chapter if it complies with the
financial requirements of  paragraph  one  of  subsection  (a)  of  this
section.
2023 New York Laws › ISC - Insurance › Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies › 4205 - Life, Accident and Health, and Legal Services Insurance Companies; Engaging in Other Business.

§  4205.  Life,  accident  and  health,  and  legal services insurance
  companies;  engaging  in  other  business.  No  life  insurance  company
  licensed  to  do  a  life  insurance business in this state shall do any
  business other than the kinds of business specified in  paragraphs  one,
  two,  three, twenty-nine and thirty-one of subsection (a) of section one
  thousand  one  hundred  thirteen,  sections  one  thousand  one  hundred
  fourteen,  one  thousand  seven  hundred fourteen and three thousand two
  hundred twenty-two of  this  chapter  and  such  other  business  as  is
  necessarily  or properly incidental thereto. Except as stated in section
  one thousand one hundred six of this chapter, this section  shall  apply
  to  the  business  within  or  without this state of such a foreign life
  insurance company and shall apply only to the business within the United
  States of such an alien life insurance company.
2023 New York Laws › ISC - Insurance › Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies › 4206 - Deposits by Life, Accident and Health, and Legal Services Insurance Companies.

§  4206.  Deposits  by  life,  accident and health, and legal services
  insurance  companies.  Before  being  licensed  to  do  business,  every
  domestic  life  insurance  company,  every  domestic accident and health
  insurance company and every domestic legal  services  insurance  company
  shall  deposit  with  the  superintendent  at least one hundred thousand
  dollars in securities eligible for  deposits,  except  that  every  such
  company  initially  licensed  on  or  after July first, nineteen hundred
  eighty-two shall make a deposit with the superintendent at  least  equal
  to two hundred percent of the amount required hereinabove.