Bill > S09561

This bill requires property and casualty insurance companies that operate in the state to annually report to the Department of Financial Services information about multifamily residential buildings, which are defined as properties with two or more dwelling units. These reports must include details on premiums collected and claims paid, along with any other information the department deems necessary in consultation with the division of housing and community renewal. The reports are due by March 1st each year for the preceding calendar year, and the department will create a public database to display this information. However, any data considered trade secrets or sensitive commercial information will be aggregated and de-identified before being published to protect confidentiality, and will not be subject to public disclosure laws.