Bill > S00895

This bill amends the Insurance Law to establish requirements for "group policies" that provide insurance coverage for motor vehicles engaged in the business of carrying or transporting passengers for hire, with a seating capacity of at least 8 passengers. The key provisions include: defining terms like "group policy," "group member," and "sponsoring entity"; allowing authorized insurers to issue group policies to sponsoring entities as policyholders; specifying the required and optional coverage that must be provided under a group policy; detailing requirements for issuing certificates of insurance to group members; and setting rules for cancellation, non-renewal, and renewal of group policies. The bill also allows the Superintendent to promulgate regulations related to group policies for these for-hire motor vehicles.

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https://www.nysenate.gov/legislation/bills/2021/S895