Bill > S09516

This bill amends the vehicle and traffic law to expand the types of risk retention groups that can provide liability insurance for certain types of vehicles, including commuter vans, pre-arranged for-hire vehicles, and accessible vehicles. It defines these new vehicle types and sets minimum insurance coverage requirements for them. The bill also requires risk retention groups not chartered in New York to report certain regulatory actions to the state's Department of Financial Services to avoid duplication. The bill takes effect immediately.