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Legislative Memo

Ken Pokalsky
Vice President of Government Affairs
T 518.465.7517 x205
www.bcnys.org

BILL:

S.7220-A (Breslin) / A.10636-A (Morelle)

  Support

SUBJECT:

Foster Expansion of the Commercial Insurance Market in New York State

 

S.7220-A (Breslin) / A.10636-A (Morelle)

DATE:

June 24, 2010

 

The Business Council supports S.7220-A / A.10636-A, which amends Article 63 of the Insurance Law to allow for more businesses to take advantage of New York's insurance free trade zone. This bill would modernize the regulation of the commercial insurance market in New York State. 

The Business Council of New York State supports sound public policy coupled with regulatory flexibility, which permits businesses to respond rapidly to competitive forces, economic conditions and customer needs. This legislation would modernize the regulation of commercial insurance while ensuring the continued oversight by The New York State Insurance Department for sound and prudent conduct of insurers' financial operations.

The Business Council of New York State supports the enactment of S.7220-A (Breslin) / A.10636-A (Morelle).