Enacts the "construction insurance transparency act" to require insurers to report annually to the superintendent of financial services.

The "construction insurance transparency act" requires insurers providing liability coverage under the scaffold law to report annually to the superintendent of financial services. Insurers must submit detailed financial statements and closed claim information by April 1 each year. The superintendent must issue reports summarizing the collected information by July 1. Insurers failing to comply face civil penalties. The act aims to increase transparency in the insurance industry.

Enacts the "construction insurance transparency act" to require insurers to report annually to the superintendent of financial services.

The "construction insurance transparency act" requires insurers providing liability coverage under the scaffold law to report annually to the superintendent of financial services. Insurers must submit detailed financial statements and closed claim information by April 1 each year. The superintendent must issue reports summarizing the collected information by July 1. Insurers failing to comply face civil penalties. The act aims to increase transparency in the insurance industry.