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A 4462

Requires that an insurer participating in the assigned risk plan shall review the risk profiles of each policy holder

2025 Regular Session Introduced by Clyde Vanel

Requires insurers in New York's assigned-risk plan to review every policyholder's risk profile, shaping underwriting decisions and premiums.

REFERRED TO INSURANCE
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WeVote Research Nonpartisan
Bill Summary · A 4462

Summary of Bill A 4462 (2025)

Overview

Bill A 4462, introduced on February 4, 2025 and currently REFERRED TO INSURANCE, would impose a new requirement on insurers that participate in New York’s assigned risk plan. The primary sponsor is Clyde Vanel.

In broad terms, the bill would mandate that insurers active in the assigned risk pool review the risk profiles of each policyholder. The accompanying text (not provided here) would specify how “risk profile” is defined, how frequently reviews must occur, and what actions follow such reviews.

What the bill would do

  • Require: Insurers participating in the state’s assigned risk plan must review the risk profiles of every policyholder in the plan.
  • Purpose implied by title: Improve assessment of risk within the assigned risk pool and potentially ensure that underwriting and pricing reflect current risk characteristics of policyholders.

Note: The exact definitions, processes, timelines, and consequences (e.g., how a review might affect coverage, pricing, or eligibility) are not included in the information provided. The full text would clarify these details.

Key provisions (as inferred from the title)

  • Coverage: Applies specifically to insurers that participate in the assigned risk plan.
  • Action: A mandatory review of risk profiles for each policyholder in the plan.
  • Scope: The term “risk profile” and the review methodology are not defined in the summary provided; the bill’s text would define these terms and any required documentation or reporting.

Affected parties

  • Insurers: Companies participating in the assigned risk plan would be subject to the new requirement.
  • Policyholders in the assigned risk plan: Their risk profiles would be reviewed, potentially affecting underwriting decisions or premium calculations.
  • State regulators/department (potentially, though not specified): If the bill includes compliance or reporting requirements, the relevant department (likely the state insurance department) would oversee enforcement.

Procedural status and timeline

  • Introduced: February 4, 2025.
  • Status: REFERRED TO INSURANCE (committee stage).
  • Legislative actions recorded: Two identical entries on 2025-02-04 indicating referral to the Insurance committee.
  • Next steps: If advanced, the bill may be subject to committee hearings, amendments, floor votes in the Assembly, potential consideration by the Senate, and eventual enactment or veto by the governor.

Related bills

  • A 9762, A 3827, A 2588 (prior-session bills) — likely related to the same policy area.
  • S 3062 (companion) — Senate counterpart, listed twice, indicating parallel consideration.

Sponsor

  • Clyde Vanel (primary)

This summary provides the essential information based on the bill’s title and status. For a complete understanding, the full text would be required to confirm definitions, due dates, enforcement mechanisms, and any fiscal implications.

Compiled from official sources — confirm details with the bill’s official record.

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