New York S08583 requires property/casualty insurance companies to report zip code-level data to the Department of Financial Services and authorizes.

New York S08583 amends the insurance law to require property/casualty insurance companies to submit zip code-level data on nonrenewal rates, nonpayment cancellation rates, other cancellation rates, claim frequency rates, average claim amounts, paid loss ratios, and average premiums to the Department of Financial Services. It also mandates that companies using natural disaster risk models or scoring methods to assign risk provide information about these models.

New York S08583 requires property/casualty insurance companies to report zip code-level data to the Department of Financial Services and authorizes.

New York S08583 amends the insurance law to require property/casualty insurance companies to submit zip code-level data on nonrenewal rates, nonpayment cancellation rates, other cancellation rates, claim frequency rates, average claim amounts, paid loss ratios, and average premiums to the Department of Financial Services. It also mandates that companies using natural disaster risk models or scoring methods to assign risk provide information about these models.