What's happening
This bill requires a separate insurance classification and reduced rates for businesses installing wind or solar electric systems if they have good safety records and few claims.
Why it matters
Encourages safer installation practices. By tying insurance rate reductions to safety records and low claims, the bill incentivizes businesses to prioritize jobsite safety, potentially reducing workplace accidents and injuries in the renewable energy sector.
Lowers financial barriers for clean energy installers. Reduced insurance premiums for qualifying businesses could help small and medium-sized companies afford liability, motor vehicle, and workers’ compensation coverage, making it easier to enter or remain in the market for wind and solar installation.
Promotes growth of renewable energy jobs. The creation of a distinct insurance classification tailored to the unique risks of solar and wind installation may help grow this industry by aligning insurance costs more closely with actual risk, rather than lumping these businesses into broader, less accurate categories.
Signals state support for clean energy transition. By specifically addressing the needs of wind and solar installers, New York is sending a policy signal that supports the expansion of renewable energy infrastructure, which has broader implications for climate action and economic diversification.
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Who cares
Headline styles
Sponsors
2 Co-sponsors
1 Multi-sponsor
History
- Referred to insurance
- Referred to insurance
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5812
2019-2020 Regular Sessions
IN ASSEMBLY
February 19, 2019
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.
LBD09852-01-9
A. 5812 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.