§ 3435 — Group property/casualty insurance

New York § 3435

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 34: Insurance Contracts-property/casualty

Text

§ 3435. Group property/casualty insurance.\n (a) This section shall apply to public entities as defined in section\none hundred seven of this chapter, organizations described by section\n501(c)(3) of the United States internal revenue code, charitable\ncorporations as defined in paragraph (a) of section one hundred two\n(Definitions) of the not-for-profit corporation law and formed pursuant\nto paragraph (a) of section two hundred one of the not-for-profit\ncorporation law, and organizations described by section two hundred\nsixteen-a of the education law.\n (b) Notwithstanding any other provision of this chapter, group\ncoverage for homogeneous groups formed for purposes other than obtaining\ninsurance may be approved, subject to regulations to be promulgated by\nthe superintendent, for the kinds of insurance permitted in subsection\n(c) of this section, provided such policies shall be available to all\neligible members of such group upon application.\n (c) Group policies may be written pursuant to this section for any of\nthe kinds of insurance authorized by subsection (a) of section one\nthousand one hundred thirteen of this chapter, except the kinds of\ninsurance authorized by paragraphs one, two, three, sixteen, seventeen,\neighteen, twenty-one, twenty-two, twenty-three and twenty-five of such\nsubsection.\n (d) Group policies approved pursuant to this section shall not be\neligible for the filing exemptions specified in section six thousand\nthree hundred one of this chapter.\n