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S. 8516(Rules)/A. 11566(Morelle)

Medical Malpractice, RBC

Summary:  The bill amends Section 1324 of the Insurance Law to provide the Superintendent with the authority to exempt both stock and non-stock domestic P&C companies from risk based capital requirements.  Previously, the Superintendent's authority extended only to non-stock companies.

Effective Date:  Immediately, deemed repealed December 31, 2011.

Last Action: Approved and signed by the Governor on July 21, 2008 (Chapter 385 of the Laws of 2008).

Department of Financial Services

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