Bill > A06595

This bill extends existing provisions related to medical malpractice insurance companies in New York State until December 31, 2028. Specifically, the bill amends two sections of the state insurance law: first, it extends an exemption for certain stock and non-stock insurance companies from specific regulatory provisions, and second, it delays potential rehabilitation or liquidation proceedings for domestic insurers primarily engaged in medical malpractice insurance. The key changes involve changing the previous expiration date from December 31, 2025, to December 31, 2028, effectively giving medical malpractice insurers three additional years of regulatory flexibility. This extension provides continuity and stability for medical malpractice insurance providers, ensuring they will not face certain regulatory actions during this period. The bill takes effect immediately upon passage, which means the new expiration dates will be in place as soon as the legislation is signed into law.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A6595