NY A06963

Establishes the "Automobile Insurance Consumer Information Act" requiring the Insurance Department to maintain a database of nonbusiness auto insurance rates and complaint rankings, with consumers able to request the five lowest-cost insurers and five best-rated insurers within five business days.

Mandates that all nonbusiness auto insurance policies include notice of the availability of consumer information regarding rates and complaint rankings, with standardized disclosure procedures prescribed by the superintendent.

Creates an independent Office of Public Insurance Consumer Advocate within the executive department, headed by a governor-appointed advocate confirmed by the state senate, to represent nonbusiness automobile and health insurance consumers.

Grants the public insurance consumer advocate authority to appear before the Department of Financial Services, access confidential records, conduct investigations, request hearings on rate filings, and recommend legislation benefiting consumers.

Allows municipalities to petition the Department for rate reductions on nonbusiness auto policies when current rates do not reflect accurate risk data, with the Department required to hold a public hearing within fifteen days and provide written reasoning for approval or denial.