Simplified policies of insurance providing broad coverage of all or various combinations of risks may be approved by the superintendent and issued by insurers notwithstanding any provision of this chapter, and notwithstanding those provisions of any other law which specify the content of insurance policies, provided that such policies shall be subject to regulations promulgated by the superintendent specifying the standards which must be met by insurers for issuing such policies and assuring to policyholders and claimants protections not less favorable than they would be entitled to under a substantially similar policy which is not subject to this section.
New York Legal Code