New York A 11155: Authorizes the town of Webster, county of Monroe to alienate and convey certain parcels of land used as parklands

Bill Text

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A11155 Summary:

BILL NOA11155 

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SAME ASNo Same As

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SPONSORRozic

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COSPNSR

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MLTSPNSR

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Add §346, Ins L

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Requires all motor vehicle insurers to file annual detailed financial and claim data statements with the superintendent of financial services; provides all such statements shall be made available to the public.

Go to top A11155 Actions:

BILL NOA11155 

&nbsp

04/28/2026referred to insurance

Go to topA11155 Committee&nbspVotes:

Go to topA11155 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA11155 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11155

 IN ASSEMBLY

 April 28, 2026
 ___________

 Introduced by M. of A. ROZIC -- read once and referred to the Committee
 on Insurance

 AN ACT to amend the insurance law, in relation to requiring all motor
 vehicle insurers to file annual financial statements and detailed
 claim data with the superintendent of financial services

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and may be cited as the "automobile
 2 insurance sunshine act".
 3 § 2. Legislative intent. The legislature hereby finds and declares
 4 that insurance companies issuing motor vehicle policies in this state
 5 owe a duty to the consumers they insure and to those who may in the
 6 future be insured by them, to fully disclose in a public and transparent
 7 manner all elements relating to their financial condition and solvency.
 8 Automobile use and operation is a cornerstone of modern life; in fact,
 9 auto insurance is the only coverage most New Yorkers are required by law
 10 to purchase. New York's consumers have a right to know the details and
 11 specifics of the factors and circumstances behind the financial solvency
 12 of their insurer as well as the bases for the rates they are required to
 13 pay to retain their legally mandated coverage. The determination of auto
 14 insurance premiums in New York has, unfortunately, gone on too long in
 15 obscurity, with those who bear the premium rates unable to learn reasons
 16 why they are set where they are. As a matter of public trust, automobile
 17 liability insurers should make public the pertinent facts related to
 18 their premium determinations and financial solvency. It is the sense of
 19 the legislature that this data should be disclosed in an open and public
 20 manner.
 21 § 3. The insurance law is amended by adding a new section 346 to read
 22 as follows:
 23 § 346. Financial statement and detailed claim data to be filed with
 24 the department. (a) For purposes of this section, the term "insurer"
 25 shall mean any person, corporation, association or other business entity
 26 authorized to issue a motor vehicle insurance policy in this state.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15600-01-6

 A. 11155 2

 1 (b) On or before April first of each year, every insurer shall provide
 2 the superintendent with a detailed financial statement to supplement and
 3 expand upon the information contained in the statutory annual statement
 4 for the most recently concluded calendar year. The financial statement
 5 shall contain information on a combined basis for all lines of insurance
 6 as well as information separately for each of the following lines of
 7 insurance: (1) private passenger automobile other liability, (2) private
 8 passenger automobile personal injury protection, (3) private passenger
 9 automobile physical damage, (4) commercial automobile other liability,
 10 (5) commercial automobile personal injury protection, and (6) commercial
 11 automobile physical damage. Such financial statement shall include the
 12 entirety of its business activities conducted in this state, or
 13 conducted outside this state, but having a nexus to insurance policies
 14 or contracts of insurance insuring persons or risks in this state,
 15 consistent with the procedures for determining New York state insurance
 16 business for statutory annual statement reporting purposes. Such state-
 17 ment shall be in a form determined by the superintendent. The form shall
 18 be sufficiently itemized in a m