What's happening
This bill requires property/casualty insurance companies to provide the Department of Financial Services with access to their underwriting models or detailed claim data for regulatory review.
Why it matters
Increases regulatory oversight. By requiring insurers to share their risk assessment tools and detailed claims data, the bill enables state regulators to better scrutinize how insurance companies set prices and determine coverage—potentially uncovering unfair practices or discrimination.
Provides transparency into insurer decision-making. Access to underwriting models and granular claims data can help regulators and, by extension, policymakers understand how rates are set, which could lead to reforms that address affordability or access issues for consumers.
Includes confidentiality safeguards. The bill stipulates that sensitive insurer data provided to regulators must be protected and used only for regulatory purposes, balancing transparency with the need to protect proprietary information.
Establishes meaningful consequences for non-compliance. Insurers that refuse to share their models or data could face significant penalties, including fines or loss of their license, making the mandate enforceable rather than simply advisory.
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Who cares
Property/Casualty Insurance Carriers
Must provide access to underwriting models or granular claim data to the Department of Financial Services (DFS), potentially exposing proprietary algorithms and risk assessment methodologies.
Department of Financial Services (DFS) Staff
Gains new regulatory authority and access to detailed company data, enhancing oversight of insurance practices and consumer protections.
New York Insurance Consumers
Indirectly benefit from increased regulatory scrutiny, as the DFS can better ensure fair underwriting and risk assessment practices.
- Watching
Industry Trade Associations and Legal/Compliance Professionals
Need to monitor and potentially advise on compliance, confidentiality, and regulatory risks introduced by the new requirements.
Headline styles
Require Insurance Data Disclosure
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to insurance
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
11724
IN ASSEMBLY
September 16, 2026
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Rosenthal) -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to requiring property/casualty insurance carriers to provide access to underwriting models or granular claim data to the department of financial services
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The insurance law is amended by adding a new section 338 to read as follows:
§ 338. Access to underwriting models and claim data. (a) Definitions. For purposes of this section:
(1) "Underwriting model" means any algorithm, formula, or structured methodology used by a property/casualty carrier to assess risk, determine premiums, or evaluate eligibility for coverage.
(2) "Granular claim data" means detailed, record-level information regarding claims, including but not limited to claim type, amount, date, geographic location, and resolution status.
(3) "Mutually agreed department staff" means employees or agents of the department designated by the superintendent and agreed upon with the property/casualty insurance carrier for purposes of review.
(b) Access to underwriting models. Every property/casualty insurance carrier authorized to do business in this state shall provide access to its underwriting models to mutually agreed department staff, upon request of the superintendent.
(c) Access to granular claim data. In the event that underwriting models are not available, a property/casualty insurance carrier shall provide access to granular claim data to mutually agreed department staff, sufficient to allow the department to evaluate underwriting practices and risk assessment methodologies.
(d) Confidentiality. Information provided under this section shall be subject to confidentiality protections consistent with applicable state and federal law. Department staff shall maintain such information solely for regulatory purposes.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16321-01-6
(e) Compliance. Failure to comply with this section shall constitute a violation and may subject the property/casualty insurance carrier to penalties under section one hundred nine of this chapter, including fines, suspension, or revocation of license.
§ 2. This act shall take effect on the ninetieth day after it shall have become a law.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.