Bill > S05356

This bill amends the New York State insurance law by adding a new section (§ 9112) that provides local governments (cities, towns, and villages) with the explicit authority to update outdated laws related to foreign fire insurance premiums through local law or charter provisions. Specifically, the bill allows these local governing bodies to repeal any existing local laws or charter provisions that are no longer compliant with current insurance regulations, regardless of any previous legal restrictions. The term "foreign fire insurance" typically refers to insurance policies issued by insurance companies headquartered outside of the local jurisdiction. The bill appears designed to give local governments more flexibility in managing and modernizing their insurance-related local laws, ensuring that outdated regulations can be easily removed. The legislation will take effect immediately upon passage, providing immediate legal authorization for local governments to make these updates.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5356