NY A10616

Requires all motor vehicle insurers in New York to file detailed annual financial statements and claim data with the Superintendent of Financial Services by April 1st each year

Financial statements must include itemized income sources (premiums, investments, asset sales), expenses (salaries, commissions, legal fees, advertising), and the salaries of the 20 highest-paid employees

Claim data must be categorized by insurance type (private passenger liability, personal injury protection, physical damage; commercial automobile equivalents) and broken down by zip code

All statements and aggregated claim data must be made publicly available on the department website in Excel format, with individual claim information anonymized to protect insurer and claimant identities

Non-compliance penalties include civil fines up to $50,000 per violation, suspension of policy-issuing rights, mandatory audits at the insurer's expense, and personal penalties for the signing CEO