Bill Text: NY S02835 | 2023-2024 | General Assembly | Introduced
Bill Title: Directs the state insurance fund to compensate insurance brokers for services provided to clients who obtain coverage through the fund; establishes within the existing rate structure a factor to compensate licensed insurance producers for services provided to clients who obtain coverage through the fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-03 - REFERRED TO LABOR [S02835 Detail]
Download: New_York-2023-S02835-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2835 2023-2024 Regular Sessions IN SENATE January 25, 2023 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Labor AN ACT to amend the workers' compensation law, in relation to directing the state insurance fund to compensate licensed insurance producers for the services provided to clients who obtain coverage through the fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 5 of section 76 of the workers' compensation 2 law is renumbered subdivision 6 and a new subdivision 5 is added to read 3 as follows: 4 5. The purposes of such state insurance fund are hereby further 5 enlarged to permit it to compensate licensed insurance brokers for the 6 services they provide their clients who are insured in the fund through 7 the payment of commissions. The commissioners of the state insurance 8 fund are hereby authorized and directed to establish, within the exist- 9 ing rate structure, a factor to compensate licensed insurance producers 10 for the services provided to their clients who obtain coverage through 11 the fund. 12 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06812-01-3
