A8364 • 2025

Requires the superintendent of financial services to conduct a review of mandated benefits and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: David Weprin
Last action: 2026-05-20
Official status: In Assembly Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Requires the superintendent of financial services to conduct a review of mandated benefits and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits

Requires the superintendent of financial services to conduct a review of mandated benefits and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.

What This Bill Does

Requires the superintendent of financial services to conduct a review of mandated benefits and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-05-20 Assembly
REPORTED REFERRED TO WAYS AND MEANS
2026-05-07 Assembly
AMEND AND RECOMMIT TO INSURANCE
2026-05-07 Assembly
PRINT NUMBER 8364A
2026-01-07 Assembly
REFERRED TO INSURANCE
2025-05-13 Assembly
REFERRED TO INSURANCE

Official Summary Text

Requires the superintendent of financial services to conduct a review of mandated benefits and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits
Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          8364

                               2025-2026 Regular Sessions

                                  I N  A S S E M B L Y

                                      May 13, 2025
                                       ___________

        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          on Insurance

        AN ACT to amend the financial services law, in relation to requiring the
          superintendent  of  financial services to conduct a review of mandated
          benefits and their impact on insurance premiums and to conduct a  cost
          analysis of legislation mandating new insurance benefits

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. Section 301 of the financial services  law  is  amended  by
     2  adding two new subsections (d) and (e) to read as follows:
     3    (D)  THE  SUPERINTENDENT  SHALL  BE  REQUIRED  TO  CONDUCT A REVIEW OF
     4  MANDATED BENEFITS REQUIRED BY NEW YORK STATE LAW IN EFFECT AS OF  DECEM-
     5  BER  THIRTY-FIRST, TWO THOUSAND TWENTY-FOUR AND ISSUE A REPORT DETAILING
     6  BOTH THE INDIVIDUAL AND CUMULATIVE COSTS OF SUCH MANDATES  ON  INSURANCE
     7  PREMIUMS.  SUCH REPORT SHALL BE DUE ONE YEAR FROM THE DATE ON WHICH THIS
     8  SUBSECTION TAKES EFFECT.
     9    (E) THE SUPERINTENDENT SHALL BE REQUIRED TO CONDUCT A COST ANALYSIS OF
    10  LEGISLATION  MANDATING  NEW  INSURANCE BENEFITS TO EXAMINE THE IMPACT ON
    11  INSURANCE PREMIUMS PRIOR TO THE ADOPTION OF SUCH LEGISLATION. NEW LEGIS-
    12  LATION PASSED BUT NOT YET CONSIDERED BY THE GOVERNOR SHALL NOT BE DEEMED
    13  IN FULL FORCE AND EFFECT UNTIL SUCH COST ANALYSIS FROM  THE  SUPERINTEN-
    14  DENT  IS  COMPLETED  AND MADE PUBLICLY AVAILABLE FOR REVIEW AND COMMENT.
    15  THE PROVISIONS OF THIS SUBSECTION SHALL APPLY TO ALL LEGISLATION  PASSED
    16  ON OR AFTER THE DATE WHICH THIS SUBSECTION TAKES EFFECT.
    17    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11944-01-5