NY A03893

Creates the "Automobile Insurance Consumer Information Act" requiring the Department of Financial Services to maintain a database of auto insurance rates and complaint rankings for all licensed insurers in New York

Requires the department to provide consumers, within 5 business days of inquiry, the names and contact information of the 5 lowest-cost insurers and the 5 best-ranked insurers for their specific coverage needs

Establishes an independent Office of Public Insurance Consumer Advocate in the executive department to represent the interests of nonbusiness automobile and health insurance consumers, with a governor-appointed advocate serving 2-year terms

Grants the consumer advocate authority to intervene in rate proceedings, request hearings within 15 days on proposed rate changes, access department records, conduct investigations, and recommend legislation

Allows municipalities to petition for auto insurance rate reductions when current rates do not accurately reflect local risk data, with mandatory public hearings within 15 days of petition receipt