Bill
A 3819
Overview: Bill Number: A 3819, Title: Expands authorization for certain exemptions from filing requirements, Status: REFERRED TO INSURANCE, Introduced: January 30, 2025Purpose and
Overview: Bill Number: A 3819, Title: Expands authorization for certain exemptions from filing requirements, Status: REFERRED TO INSURANCE, Introduced: January 30, 2025
Purpose and Intent: The main purpose of this bill is to expand the types of insurance products and entities that are exempt from certain filing requirements with the New York State Department of Financial Services. The intent is to reduce the administrative burden and costs for certain insurance providers, while still maintaining appropriate regulatory oversight.
Key Provisions:
- Exempts additional types of insurance products, such as certain group life insurance and accident and health insurance policies, from filing requirements
- Expands the exemption to include certain insurance providers, such as fraternal benefit societies and self-funded employee benefit plans
- Maintains the Department of Financial Services' authority to request filings or information from exempt entities if necessary
Affected Parties and Impacts:
- Insurance providers, particularly smaller or specialized entities, who may benefit from reduced filing requirements and associated costs
- Consumers of the exempt insurance products, who may see potential cost savings or increased availability of these products
Procedural and Timeline Considerations:
The bill has been referred to the Insurance Committee for further consideration. If passed, the expanded exemptions would take effect, reducing the administrative burden for eligible insurance providers.
Compiled from official sources — confirm details with the bill’s official record.
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