New York S 9561: Requires property/casualty insurance companies to submit information on multifamily housing premiums and claims paid to the department of financial services

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S09561 Summary:

BILL NOS09561 

&nbsp

SAME ASSAME AS A10529

&nbsp

SPONSORKAVANAGH

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §4123, Ins L

&nbsp

Requires property/casualty insurance companies to submit information on multifamily housing premiums and claims paid to the department of financial services.

Go to top S09561 Actions:

BILL NOS09561 

&nbsp

03/25/2026REFERRED TO INSURANCE

07/01/2026RECOMMIT, ENACTING CLAUSE STRICKEN

Go to topS09561 Committee&nbspVotes:

Go to topS09561 Floor&nbspVotes:

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

Go to topS09561 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9561

 IN SENATE

 March 25, 2026
 ___________

 Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when
 printed to be committed to the Committee on Insurance

 AN ACT to amend the insurance law, in relation to requiring
 property/casualty insurance companies to submit information on multi-
 family housing premiums and claims paid to the department of financial
 services

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

 1 Section 1. The insurance law is amended by adding a new section 4123
 2 to read as follows:
 3 § 4123. Reporting requirements for property/casualty insurance compa-
 4 nies regarding multifamily residential buildings. (a) For the purposes
 5 of this section, the term "multifamily residential building" shall mean
 6 a property containing two or more dwelling units.
 7 (b) Every property/casualty insurance company doing business in this
 8 state shall annually submit to the department a report relating to
 9 multifamily residential buildings including, but not limited to, infor-
 10 mation regarding:
 11 (1) collected premiums;
 12 (2) claims paid; and
 13 (3) any other information required by the department in consultation
 14 with the division of housing and community renewal.
 15 (c) Such report shall be submitted in the form and manner prescribed
 16 by the superintendent on or before March first of each year for the
 17 prior calendar year.
 18 (d) The department shall create and maintain a public-facing database
 19 which allows access to the reports submitted under this section;
 20 provided, however, any portion of a report submitted under this section
 21 that shall constitute trade secrets or sensitive commercial information
 22 shall:
 23 (1) not be published on such database and shall instead be aggregated
 24 and de-identified by the department and published as such on such data-
 25 base;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15143-01-6

 S. 9561 2

 1 (2) be confidential under paragraph (d) of subdivision two of section
 2 eighty-seven of the public officers law; and
 3 (3) not be subject to disclosure under article six of the public offi-
 4 cers law.
 5 § 2. This act shall take effect on the one hundred eightieth day after
 6 it shall have become a law. Effective immediately, the addition, amend-
 7 ment and/or repeal of any rule or regulation necessary for the implemen-
 8 tation of this act on its effective date are authorized to be made and
 9 completed on or before such effective date.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps