S 5048 New York Senate · 2025 Regular Session

Relates to contractual liability insurance policies

Summary

Relates to contractual liability insurance policies; provides that each provider may maintain a maximum of five service contract reimbursement insurance policies insuring its service contracts actively offered.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 18, 2025 Last action Jun 9, 2025

Maddy AI version diff · 1 comparison

What changed between versions

S5048 → S5048A · 4 edits

MODERATE

This bill amends New York's insurance law regarding service contract reimbursement policies. It simplifies the language required for insurance coverage and adds a new provision allowing providers to maintain up to five such insurance policies, while removing detailed requirements about specific policy statements and contact information.

Scope change

The bill maintains its focus on service contract insurance but modifies the regulatory framework governing how providers must maintain and describe their insurance coverage.

REQUIREMENT

Removed detailed requirements for specific policy language and contact information that must appear on service contracts.

Added a new provision allowing providers to maintain a maximum of five service contract reimbursement insurance policies for actively offered contracts.

Simplified the language describing what providers must insure, changing from 'all its obligations' to '[all] its obligations' to allow for potential future modifications.

Removed the requirement that providers must comply with alternative paragraphs within 45 days of insurance lapse or termination.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 16, 2025

Senate · Amendment adopted

PRINT NUMBER 5048A

May 16, 2025

Senate · Amendment adopted

AMEND AND RECOMMIT TO INSURANCE

Feb 18, 2025

Senate · Referred to committee

REFERRED TO INSURANCE

1 primary · 0 co-sponsors