S 10582

                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
                                   10582
                             I N  S E N A T E
                               May 27, 2026
                                ___________
 Introduced  by  Sen.  BAILEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 AN ACT to amend the insurance law, in relation to  extending  provisions
   of  the property/casualty insurance availability act and the authority
   of the New York property insurance underwriting association
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
   Section  1.  Section  2342 of the insurance law, as amended by chapter
 182 of the laws of 2023, is amended to read as follows:
   § 2342. Expiration of certain provisions. The provisions of subsection
 (c) of section two thousand three hundred seven,  section  two  thousand
 three  hundred  eight,  subsection  (a)  of  section  two thousand three
 hundred ten, sections two thousand three hundred sixteen,  two  thousand
 three hundred twenty, two thousand three hundred twenty-three, two thou-
 sand  three  hundred  twenty-six, and two thousand three hundred thirty-
 five, and subsection (b) of section two thousand three  hundred  thirty-
 six  of this article shall cease to be of any force or effect during the
 period August third, two thousand one through the day before the  effec-
 tive date of the property/casualty insurance availability act, and after
 June thirtieth, two thousand [twenty-six] TWENTY-NINE.
   §  2.  Subsection (f) of section 2305 of the insurance law, as amended
 by chapter 182 of the laws of 2023, is amended to read as follows:
   (f) Subsection (a) of this section shall be  of  no  force  or  effect
 during  the period August third, two thousand one through the day before
 the effective date of the property/casualty insurance availability  act,
 and after June thirtieth, two thousand [twenty-six] TWENTY-NINE.  During
 the  period  August  third,  two thousand one through the day before the
 effective date of the property/casualty insurance availability act,  and
 again  commencing  on July first, two thousand [twenty-six] TWENTY-NINE,
 all rates previously subject to subsection (a) of  this  section,  other
 than  rates that are not required to be filed pursuant to subsection (b)
 of section two thousand three hundred ten of this article or  that  have
 been suspended from the filing requirement pursuant to section two thou-
 sand  three  hundred  eleven  of  this  article, shall become subject to
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15868-01-6
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 subsections (b), (c) and (d) of this section. All  other  provisions  of
 this  article  applicable  to kinds of insurance or insurance activities
 the rates for which are subject to prior approval under  subsection  (b)
 of  this  section  shall apply to kinds of insurance the rates for which
 were previously subject to subsection (a) of this section or  the  rates
 for  which  are  not  required to be filed pursuant to subsection (b) of
 section two thousand three hundred ten of this article or the rates  for
 which  have  been  suspended  from  the  filing  requirement pursuant to
 section two thousand three hundred eleven of this article.
   § 3. Subsection (h) of section 2344 of the insurance law,  as  amended
 by chapter 182 of the laws of 2023, is amended to read as follows:
   (h)  This  section shall cease to be of any force or effect during the
 period August third, two thousand one through the day before the  effec-
 tive date of the property/casualty insurance availability act, and after
 June thirtieth, two thousand [twenty-six] TWENTY-NINE, except that rates
 shall  reflect the likely reductive cost effects reasonably attributable
 to the statutory provisions specified in paragraph one of subsection (g)
 of this section.
   § 4. Paragraphs 1 and 2 and the opening paragraph of  paragraph  3  of
 subsection (m) of section 3425 of the insurance law, as amended by chap-
 ter 182 of the laws of 2023, are amended to read as follows:
   (1)  Paragraphs  eight  and nine of subsection (a), subsection (f) and
 subparagraphs (B) and (E) of paragraph one of  subsection  (j)  of  this
 section  shall  not apply to any new covered policy of automobile insur-
 ance voluntarily written on or  after  August  first,  nineteen  hundred
 eighty-five and prior to January first, nineteen hundred eighty-six, and
 on  or  after August second, two thousand one and prior to the effective
 date of the property/casualty insurance  availability  act,  and  on  or
 after  June  thirtieth,  two  thousand [twenty-six] TWENTY-NINE, but the
 legal rights granted to insurers or policyholders under such  provisions
 shall not be extinguished or impaired thereby.
   (2)  In  lieu  of  such provisions, paragraph seven of subsection (a),
 subparagraph (A) of paragraph one of subsection (j) of this section  and
 paragraph three of this subsection shall apply to such automobile insur-
 ance  policies  that are newly and voluntarily written to have an effec-
 tive date on or after August first,  nineteen  hundred  eighty-five  and
 prior  to  January  first,  nineteen hundred eighty-six, and on or after
 August second, two thousand one and prior to the effective date  of  the
 property/casualty insurance availability act, and on or after June thir-
 tieth, two thousand [twenty-six] TWENTY-NINE.
   On  and  after August first, nineteen hundred eighty-five and prior to
 January first, nineteen hundred  eighty-six,  and  on  or  after  August
 second,  two  thousand  one  and  prior  to  the  effective  date of the
 property/casualty insurance availability act, and on or after June thir-
 tieth, two thousand [twenty-six] TWENTY-NINE, no notice of nonrenewal or
 conditional  renewal  of  such  covered  automobile  insurance  policies
 referred  to  in  this  subsection  shall  be issued to become effective
 during the required policy period unless it is based upon a  ground  for
 which  the  policy  could have been cancelled or unless it is based upon
 one or more of the following grounds that occurred during the thirty-six
 month period ending on the last day of the fourth  month  preceding  the
 month  of the effective date of such notice of nonrenewal or conditional
 renewal:
   § 5. Subsection (g) of section 5412 of the insurance law,  as  amended
 by chapter 182 of the laws of 2023, is amended to read as follows:
 S. 10582                            3
   (g)  The  provisions of this section shall cease to be of any force or
 effect  on  or  after  June   thirtieth,   two   thousand   [twenty-six]
 TWENTY-NINE,  except  that policies issued or other obligations incurred
 by the association shall not be  impaired  by  the  expiration  of  this
 section  and the association shall continue for the purpose of servicing
 such policies and performing such obligations.
   § 6. This act shall take effect immediately; provided that the  amend-
 ments  to  sections  2344 and 5412 of the insurance law made by sections
 three and five of this act shall  not  affect  the  expiration  of  such
 sections and shall expire and be deemed repealed therewith.