Bill > A05113

This bill establishes a captive insurance program for certain transportation vehicles, including commuter vans, pre-arranged for-hire vehicles, and accessible vehicles that carry between nine and twenty-four passengers. The bill defines these vehicle types in detail, with "accessible vehicle" having particularly comprehensive requirements, such as compliance with the Americans with Disabilities Act, wheelchair accommodation, assistive listening systems, and other specialized features. The superintendent of insurance will be responsible for creating standards to enroll eligible vehicles and monitor the performance of the captive insurance companies. A captive insurance company is a type of insurance company created and owned by a specific group or industry to provide specialized insurance coverage. The bill allows these vehicles to create group captive insurance companies and mandates that they provide minimum required insurance coverage. Importantly, any no-fault insurance for these vehicles will use medical treatment guidelines from existing workers' compensation law. The legislation aims to provide more affordable and tailored insurance options for these specific types of transportation vehicles, with a particular emphasis on accessibility and specialized transportation services.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A5113