Provides that the requirement for advertisements referring to an insurer to include the insurer's full name and principal office shall not apply to digital advertisements.
Relates to mortgage guaranty insurance; allows for withdrawals from the contingency reserve if the superintendent determines that such withdrawals will not be harmful to policy holders.
Relates to motions to vacate judgment; authorizes filing motions to vacate judgment for a conviction that was subsequently decriminalized; authorizes motions to vacate judgment to be filed at any time after entry of a judgment obtained at trial or by plea; repeals certain provisions relating thereto.
Provides that certain purchase contracts to purchase food can be awarded to a qualified bidder who fulfills certain values based procurement standards when such bid is not more than 10% higher than the lowest responsible bidder and when the bidder makes publicly available data on where such bidder sources their food items; sets forth the criteria for values based procurement standards to include local economies, environmental resilience, racial equity, valued workforce, valued agricultural sector, animal welfare, and nutrition.
Regulates the development and use of certain artificial intelligence systems to prevent algorithmic discrimination; requires independent audits of high risk AI systems; provides for enforcement by the attorney general.
Maddy summaryThis bill regulates the pet insurance industry by establishing clear definitions for terms like preexisting conditions, chronic illnesses, and wellness programs. It requires insurers to explicitly disclose coverage limits, exclusions, and how they calculate claim payments to ensure consumers understand their policies. The legislation also mandates a 30-day "free look" period allowing buyers to return a policy for a full refund if they are not satisfied, provided no claims have been filed. Additionally, the bill sets rules for how insurers must present these definitions and policy details on their websites to improve transparency.
Maddy summaryThis bill extends the expiration dates of several temporary provisions within New York's property and casualty insurance laws, specifically targeting rules related to insurance availability and rate filing requirements. It affects insurance companies, policyholders, and the New York Property Insurance Underwriting Association by delaying the end of these specific regulatory measures until June 30, 2029. The legislation ensures that certain rules regarding automobile insurance non-renewal notices and rate approvals remain in effect during this extended period, while also clarifying that the underwriting association must continue servicing existing policies even after the main provisions expire. By amending multiple sections of the state insurance law, the bill provides a longer timeframe for the implementation and operation of these insurance availability safeguards.
Extends the effectiveness of certain provisions providing for increased supplementary uninsured/underinsured motorist (SUM) insurance coverage to June 30, 2029.
Maddy summaryThis bill makes permanent certain insurance provisions related to catastrophic or reinsurance coverage for small groups that were previously set to expire. It removes the automatic repeal clause that would have ended these coverage rules after thirteen years, allowing them to continue indefinitely. The change directly affects small group insurance policies and the insurers who provide catastrophic or reinsurance coverage to these groups. The bill takes effect immediately upon passage and does not alter the core coverage requirements, only their duration.
Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies; provides that ballots shall be cast electronically to a neutral third party; provides that by-laws approved by shareholders and the commissioner of housing or supervising agency may limit eligibility for being a candidate for board of directors of a mutual housing company; relates to quorum for purposes of an election of board members in certain mutual housing companies.
