Bill > A10529

This bill requires property and casualty insurance companies operating in New York to annually report to the Department of Financial Services (DFS) information about multifamily residential buildings, which are defined as properties with two or more dwelling units. The reports, due by March 1st each year for the preceding calendar year, must include details on premiums collected and claims paid, along with any other information the DFS deems necessary in consultation with the Division of Housing and Community Renewal. The DFS will then create a public database to display this information, though any data considered trade secrets or sensitive commercial information will be aggregated, de-identified, and kept confidential, meaning it will not be individually published or subject to public disclosure laws.