Bill Aims To Cut Filing Regs For Large Policyholders

Law360, New York (March 17, 2011, 4:31 PM EDT) -- A New York state senator introduced a bill on Thursday that would exempt large commercial insureds from certain rate and policy form requirements, a move aimed at improving the business climate within the state.

S.B. 4068, introduced by state Sen. James L. Seward, R-Oneonta, would amend Section 6301 of New York's insurance laws to specify which large companies would qualify for certain exemptions granted by the superintendent of the New York State Insurance Department.

The measure is an effort to modernize and streamline the current system,...
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