Require Insurers to Report Multifamily Housing Data

✦ Plain-Language Summary

This bill requires property and casualty insurance companies to share detailed information about their premiums and claims for multifamily housing buildings with the state Department of Financial Services. The goal is to give state regulators better insight into how insurers are pricing and handling coverage for apartment buildings and other multi-unit housing. This could help identify unfair pricing practices and improve oversight of insurance costs that ultimately affect New York renters and landlords.