Bill > S08255

This bill aims to establish a captive insurance program for commuter vans engaged in the business of carrying or transporting passengers for hire. The program would involve identifying and licensing a captive insurance company or companies to provide necessary insurance coverage to eligible commuter vans, setting standards for enrollment and monitoring the performance of the captive insurance providers in offering affordable coverage to participating commuter vans. The bill defines "commuter van" as per the administrative code of the City of New York, and the act would take effect 90 days after becoming law.