Official record
Measure details
- Jurisdiction
- New York
- Session
- 2025-2026
- Chamber
- upper
- Classification
- bill
- Subjects
- Not supplied
- Introduced / first action
- 2025-11-17 00:00:00
Source-supplied abstracts
Requires property/casualty insurance companies to submit certain zip code-level data to the department of financial services on nonrenewal rates, nonpayment cancellation rates, other cancellation rates, claim frequency rates, average claim amounts, paid loss ratios, and average premiums; requires property/casualty insurance companies that use a natural disaster risk model or scoring method to assign risk, information about such model or scoring method; authorizes a premium discount to policyholders of homeowners insurance or property/casualty insurance applicable to residential real property who demonstrate certain mitigation actions; requires insurers to post about such discounts on their public websites; relates to the timing of cancellation and nonrenewal notices for certain insurance policies; relates to increasing membership of the board governing the New York property insurance underwriting association; requires a quadrennial report on the activities of such association; increases such board membership to 23 including 6 directors appointed by the legislature and 4 directors appointed by the governor.
Sponsors
- Brian Kavanagh (primary), primary
- Liz Krueger, cosponsor
- Rachel May, cosponsor
- Julia Salazar, cosponsor