Bill > S07950

This bill aims to establish a captive insurance program for commuter vans in New York. The program will involve the Superintendent of Insurance identifying and licensing captive insurance companies to provide necessary insurance coverage to commuter vans, setting standards for enrollment of eligible commuter vans, and monitoring the performance of the captive insurance companies in providing affordable coverage to the participating commuter vans. The term "commuter van" is defined as per the Administrative Code of the City of New York. The bill will take effect 90 days after it becomes law.

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https://www.nysenate.gov/legislation/bills/2023/S7950