Allows domestic insurers to make certain records available by electronic means if they are easily accessible from the insurer's principal office in this state and the insurer complies with all applicable state and federal laws and regulations.
Summary
Bill A03028 amends the New York insurance law to permit domestic insurers to maintain certain records electronically. This includes allowing insurers to store their charter, by-laws, books of account, and shareholder records on internet-accessible servers or internal servers, provided they remain easily accessible from the insurer's principal office in New York. The bill aims to modernize record-keeping practices in the insurance industry, aligning them with current technological capabilities while ensuring compliance with applicable state and federal laws.
Impact
The passage of this bill will significantly impact the operational procedures of domestic insurers in New York by allowing them to digitize their record-keeping systems. This change is expected to enhance efficiency and accessibility of records, potentially reducing administrative costs associated with physical storage. Moreover, it may encourage more insurers to adopt modern technology solutions, fostering a more competitive insurance market in the state.
Sentiment
The sentiment surrounding Bill A03028 has been overwhelmingly positive, as evidenced by the unanimous support during committee discussions and subsequent votes in both the Assembly and Senate. The bill received favorable votes with no opposition, indicating strong bipartisan support for the modernization of record-keeping practices within the insurance sector.
Contention
There were no notable points of contention regarding Bill A03028 during its discussions and voting. The unanimous support suggests that stakeholders, including insurers and legislative members, agree on the necessity and benefits of allowing electronic record-keeping, with no significant opposition raised.
Same As
Allows domestic insurers to make certain records available by electronic means if they are easily accessible from the insurer's principal office in this state and the insurer complies with all applicable state and federal laws and regulations.
Allows domestic insurers to make certain records available by electronic means if they are easily accessible from the insurer's principal office in this state and the insurer complies with all applicable state and federal laws and regulations.
Allows domestic insurers to make certain records available by electronic means if they are easily accessible from the insurer's principal office in this state and the insurer complies with all applicable state and federal laws and regulations.
This bill establishes which state law governs health insurers offering coverage in multiple states. Specifically, the bill provides that the laws of a state designated by a health insurer (primary state) apply to individual health insurance coverage offered by that insurer in any other state (secondary state) if the coverage, states, and insurer comply with the conditions of this bill. Insurers are exempted from any secondary state's laws that would prohibit or regulate the operation of the insurer in that state. The primary state is given sole jurisdiction to enforce its covered laws in any secondary state. The Government Accountability Office must study the effect of this bill on specified health insurance issues.
Permits insurers to provide certain loss prevention and risk management electronics, equipment, devices or special offers to insureds and prospective insureds.
An Act Concerning Electronic Posting Of Certain Documents By Insurers, Nonrenewal Or Cancellation Of Property And Casualty Insurance Policies, Federal Home Loan Banks And The Insurers Rehabilitation And Liquidation Act, Hypothecation Of Assets And Surplus Lines Insurance.
Requires that a contract between an insurer and a hospital shall include a provision that provides for medical records requested by the insurer or its utilization review agent to be made available electronically by the hospital; limits the use of disclosed records.
Requires that a contract between an insurer and a hospital shall include a provision that provides for medical records requested by the insurer or its utilization review agent to be made available electronically by the hospital; limits the use of disclosed records.