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2006 INSURANCE
LEGISLATIVE PROGRAM
Following is The Business Council's 2006 Legislative
Program. It identifies priority issues to be addressed by the
Committees and Councils during 2006.
General
- Support measures to reform New York State's tort system.
- Support reduction in premium taxes on the insurance
industry in New York.
- Oppose the excessive sub-allocation
of funds from the Insurance Department budget to other agencies,
which are funded by assessments on insurance carriers.
- Oppose
legislation to place limitations on policy or coverage exclusions.
- Establish
performance standards for the Department of Insurance Fraud
Unit including an annual report on the activities of the unit.
- Support
the reform of Sections 240 and 241 of the Labor Law.
- Support
legislation repealing joint and several liability.
- Oppose
any further prohibition, restrictions or penalty for the
use of statistically valid risk indicators.
- Support
reasonable standards to promote insurance company solvency
and oppose unreasonable restrictions and burdensome reporting
requirements on investment powers of the insurance industry.
- Ensure
that identity theft and social security number restriction
legislation continues to permit insurers to use SSNs and credit
reports for necessary business functions.
- Oppose the use
of fines and penalties for specific revenue purposes.
- Support
legislation to make permanent the law allowing the expanded
use of derivative and replication transactions as part of
an insurer's investment plan.
Health & Life
- Support the continuation of the streamlined process
for file and use policy forms with the insurance department.
- Support "speed-to-market" initiatives
and the Interstate Compact Proposal which will serve to expedite
uniform product approval processes, as set forth by the National
Association of Insurance Commissioners (NAIC), the National Conference
of Insurance Legislators (NCOIL) and the National Conference
of State Legislatures (NCSL).
- Oppose increases in the premium
tax or the imposition of any new taxes on insurers.
- Support
legislation to regulate viatical and life settlements provided
such legislation does not impose unreasonable requirements
on life insurers.
- Oppose the inclusion of variable
life insurance and variable annuities within the definition
of "security" in the Uniform Securities
Act as proposed by the National Conference of Commissioners on
Uniform State Laws (NCCUSL).
- Support health plan flexibility
to market products that increase cost sharing through flexible
copayments of specific services or providers.
- Support legislation
which would authorize designation of funeral firms as beneficiaries
of certain life insurance policies and allow for the payment
of commissions on such policies to funeral directors who are
also licensed life insurance agents.
- Oppose efforts to
limit health insurer/HMO ability to recover overpayments,
incorrect payments, etc., from health care providers without
having to demonstrate fraud.
- Oppose efforts to limit or
prohibit insurer/HMO subrogation rights when a subscriber is
awarded is damages from a third party, including health care
costs, for services paid for by a health insurer/HMO.
- Oppose
efforts to broaden the standard of liability and increases
in damages on health plans and providers.
- Oppose further
expansion of mandatory and make-available health insurance
coverage of specific benefits and services, and support
the requirement of a fiscal analysis of all insurance mandates
prior to legislative consideration.
- Oppose universal health
insurance measures which require employers to either provide
health insurance or pay financial assessments.
- Support
the adoption of health plans risked based capital standards
or increased reserve requirements.
- Support the adoption
of the Medicare 95% standard used to determine if a health
plan is compliant with statutory prompt payment requirements.
- Oppose
efforts to change existing utilization management and prompt
payment requirements that would prevent proper investigation
of fraud and abuse.
- Support increased funding for report
card and other quality measurement tools to provide more
meaningful information and accountability to group purchasers.
- Encourage
managed care for all applicable lines while opposing legislation
which impedes the growth of managed care including "any
willing provider" and "unitary pricing" proposals.
- Support
increasing the capacity for international investments by life
insurers.
- Support legislation that will make permanent
the revision to the formula establishing surplus limits for
certain domestic life companies.
Property & Casualty
- Support voluntary market solutions to insurance market
availability problems, including but not limited to coastal
insurance issues.
- Support rate and form modernization to promote market
based solutions.
- Support legislation reforming the Workers
Compensation system that results in cost savings to the system.
- Support
proposals to deter no-fault fraud.
- Support long-term
reform of state guaranty fund system to help secure stability
and solvency of the guaranty fund.
- Support legislation
amending the Standard Fire Policy to eliminate coverage for "fire
following" a terrorist event.
Click here for the 2006
Legislative Program for all Issue areas.
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