Albany Update 03.28.24

KNOW BETTER NEW YORK CONNECTIONS

Albany Update 03.28.24

In this issue …

New York State Budget Update

While the deadline for adopting a budget is April 1, the Governor and Legislature have instead agreed to a short-term extender. Yesterday Governor Hochul issued a statement indicating that she will be delivering a bill to the Legislature to temporarily extend the budget deadline until Thursday, April 4. The Governor said that while she believes a final agreement is within reach the reason for the extension is so New Yorkers can enjoy the holiday weekend. Senate Majority Leader Andrea Stewart-Cousins stated in a news conference that “we’re in the middle of the middle.” The Senate and Assembly both passed the budget extender legislation today. We will keep NYIA members informed of any further updates on the budget.

Cyber Compliance Filing Deadline – April 15, 2024

As a reminder, the April 15 cyber compliance deadline is fast approaching. Covered entities need to file either a certification of material compliance or acknowledgement of noncompliance by this date. As we mentioned during the Information Security Advisory Group meeting held this week, delegates may go into the portal and sign on behalf of the highest ranking executive and the CISO with a “submitter” field being added. The highest ranking executive and the CISO themselves are required to have based their decision on documentation and data, and all related records and information must be retained regarding the submission for five years. Additional information is available in DFS’s Cybersecurity Resource Center by clicking on Submit a Compliance Filing on the left-hand menu.

Bills on the Move

The following bills have recently seen movement in at least one house of the Legislature.

A6680 (Paulin) – Clarifies when telemarketing is prohibited during a state of emergency. Passed Assembly on 3/21/24. NYIA supports.
A8831 (Berger) – Repeals section 3403 of the insurance law relating to anti-arson applications. Passed Assembly on 3/25/24. NYIA strongly supports as a priority initiative.
A9407 (Weprin) – Amends current supplemental spousal liability opt-out requirements to only apply for personal auto insureds that indicate on an application that they have a spouse. Passed Assembly on 3/25/24. NYIA has not taken a position.
S1471 (Breslin) – Permits an insurer to rescind or retroactively cancel an auto policy when it is purchased fraudulently. Passed Senate on 3/25/24. NYIA strongly supports.
S1974A (Ramos) – Limits the ability for contracted pharmacy use in workers compensation. Passed the Senate on 3/20/24. NYIA opposes.
S2796 (Breslin) – Repeals the requirement to obtain a declination from the MMIP before primary medical malpractice insurance can be placed in the excess line market. Passed Senate on 3/21/24. NYIA is neutral.
S5916 (Hoylman-Sigal) – Removes the requirement of the filing of a notice of claim in an action under the adult survivors’ act. Reported from Judiciary Committee on 3/26/24. NYIA is seeking feedback from members.