S8583 (2025-26 session)

NY State bill

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.

Title
Requires property/casualty insurance companies to submit certain data to the department of financial services and authorizes premium discounts to policyholders who demonstrate certain mitigation actions
Type
New York State Senate bill
Session
2025-26 session
Status
In Assembly Committee
Latest action date
2026-06-04
In committee
Insurance
Introduced
2025-11-17
Active version
S8583C
Same as
A9016
Law section
Insurance Law

Sponsors

Co-sponsors

Heard in committee

Same as

Committee meetings

Committee meetings that took this bill up, from the Senate's published agendas. The Assembly does not publish its committee agendas in machine-readable form, so an Assembly committee's consideration of a bill is not on this list.

Sources