Bill > S05327

This bill modifies the Workers' Compensation Law to update the process for employers withdrawing from the state insurance fund. Currently, employers must provide at least 30 days' written notice before canceling their insurance contract with the state fund. The bill changes gender-specific language from "his" to "their" and adds a new provision that creates an exception to the standard 30-day notice requirement. Under the new language, when an employer provides written notice to the fund that includes the cancellation date and proof of compliance with specific legal requirements, the contract can be canceled on the effective date of a new insurance contract with a private insurance company. This means employers can potentially transition more quickly from the state insurance fund to a private insurer, with the cancellation date aligned with the start of the new insurance contract. The bill will take effect 90 days after becoming law, which is a standard implementation timeline that allows state agencies and affected parties time to prepare for the change.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S5327