NY A05811

Requires insurers providing liability coverage under New York's "scaffold law" (Labor Law Section 240) to file annual financial statements and detailed claim data with the Superintendent of Financial Services by April 1st each year

Initial filing must include data for the previous 10 calendar years, with subsequent filings covering the prior calendar year only

Financial statements must include 16 categories of information including premiums, paid judgments/settlements, case reserves, defense costs, investment income, number of claims opened/closed, and risk management program expenditures, all separated by zip code

Superintendent must publish annual reports by July 1st summarizing the collected data and recommending risk management programs to reduce premiums and improve worker safety, with copies sent to legislative leaders and insurance committee chairs

Insurers failing to comply face civil penalties up to $50,000 per violation, temporary suspension of policy-issuing authority, mandatory audits at the insurer's expense, and personal liability for the signing executive officer