Requires property/casualty insurance companies to submit certain data to the department of financial services and authorizes premium discounts to policyholders who demonstrate certain mitigation actions

Summary

The bill requires property and casualty insurers doing business in New York to submit annual zip‑code level statistics on renewals, cancellations, claims and premiums to the Department of Financial Services. It also obligates insurers to disclose and apply premium discounts for homeowners who can prove they have taken approved mitigation actions, such as fire safety devices, theft‑prevention locks, water‑damage monitors, or roof upgrades. The aim is to increase market transparency and encourage risk‑reducing improvements.

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