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NY S09393
Bill
Status
3/9/2026
Primary Sponsor
Robert Jackson
Click for details
AI Summary
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Insurance carriers operating in New York must provide access to their underwriting models (algorithms, formulas, or methodologies used to assess risk and determine premiums) to Department of Financial Services staff upon request by the superintendent
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If underwriting models are unavailable, carriers must instead provide granular claim data including claim type, amount, date, geographic location, and resolution status
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Access is limited to "mutually agreed department staff" designated by the superintendent and agreed upon with the insurance carrier
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All information shared under this requirement is subject to state and federal confidentiality protections and may only be used for regulatory purposes
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Non-compliance may result in penalties including fines, suspension, or revocation of the carrier's license; the law takes effect 90 days after enactment
Legislative Description
Requires insurance carriers to provide access to underwriting models or granular claim data to the department of financial services to evaluate underwriting practices and risk assessment methodologies.
Last Action
REFERRED TO INSURANCE
3/9/2026