What's happening
This bill requires a separate insurance classification and reduced rates for businesses installing wind or solar electric systems with good safety records.
Why it matters
Encourages safer installation practices. by directly linking insurance premium reductions to a business’s safety record and frequency of claims, motivating installers to maintain high safety standards.
Reduces operational costs for clean energy businesses. by mandating lower insurance rates for those with good records, potentially making wind and solar installation more financially viable and competitive.
Creates a distinct insurance category. for wind and solar installers, which could lead to more accurate risk assessment and fairer premiums compared to being lumped in with unrelated construction or electrical trades.
Supports New York’s renewable energy goals. by removing financial barriers for qualified, safety-conscious installers, potentially accelerating the adoption of solar and wind energy systems across the state.
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Who cares
Solar and wind system installers
Businesses installing qualifying grid-connected systems would receive a separate insurance classification and premium reductions when they have no or minimal claims and follow sound jobsite safety practices.
Liability, motor vehicle and workers’ compensation insurers
Insurers would need to apply the separate classification and premium reductions proportional to actuarially calculable decreases in losses.
New York State Department of Financial Services
The superintendent would be required to establish the classification and provide for qualifying installers’ premium reductions.
Headline styles
Lower Insurance for Green Installers
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
1 Multi-sponsor
History
- Referred to insurance
- Referred to insurance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Lower Insurance for Solar Installers
In Senate Committee · Insurance · Sponsor Phil Boyle
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6870
2017-2018 Regular Sessions
IN ASSEMBLY
March 22, 2017
Introduced by M. of A. ENGLEBRIGHT, COLTON, FINCH -- Multi-Sponsored by -- M. of A. McDONOUGH -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to directing the superintendent of financial services to establish a separate classification for liability insurance for businesses engaged in the installation of wind or solar electric generating systems
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The insurance law is amended by adding a new section 2346-b to read as follows:
§ 2346-b. Reduction in rates of liability insurance for installers of wind or solar electric generating systems. (a) For the purposes of this section:
(1) "Solar electric generating system" means a photovoltaic system that is manufactured, installed and operated in accordance with applicable government and industry standards, and that is connected to the electric system and operated in conjunction with an electric corporation's transmission and distribution facilities.
(2) "Wind electric generating system" means one or more wind generators that are manufactured, installed and operated in accordance with applicable government and industry standards, and that are connected to the electric system and operated in parallel with an electric corporation's transmission and distribution facilities.
(b) The superintendent shall establish a separate classification for the determination of rates and premiums for liability, motor vehicle and workers' compensation provided to any person or entity engaged in the business of installing solar and/or wind electric generating systems.
(c) The superintendent shall provide for a reduction in the rates of liability, motor vehicle and workers' compensation insurance premiums applicable to solar and/or wind electricity generating system instal-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03858-01-7
A. 6870 2
lers, when such installers have filed no or minimal insurance claims, and adhere to sound jobsite safety practices. The reductions provided for shall be proportionally related to the actuarially calculable decrease in losses in the aforementioned circumstances.
§ 2. This act shall take effect on the first of January next succeeding the date on which it shall have become a law, and shall apply to all policies issued, renewed, modified, altered or amended on or after such date.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.