A 11724: Requires property/casualty 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.

  
  STATE OF NEW YORK ________________________________________________________________________ 11724  IN ASSEMBLY September 16, 2026 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Rosenthal) -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to requiring property/casualty insurance carriers to provide access to underwriting models or granular claim data to the department of financial services The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The insurance law is amended by adding a new section 338 to 2 read as follows: 3 § 338. Access to underwriting models and claim data. (a) Definitions. 4 For purposes of this section: 5 (1) "Underwriting model" means any algorithm, formula, or structured 6 methodology used by a property/casualty carrier to assess risk, deter- 7 mine premiums, or evaluate eligibility for coverage. 8 (2) "Granular claim data" means detailed, record-level information 9 regarding claims, including but not limited to claim type, amount, date, 10 geographic location, and resolution status. 11 (3) "Mutually agreed department staff" means employees or agents of 12 the department designated by the superintendent and agreed upon with the 13 property/casualty insurance carrier for purposes of review. 14 (b) Access to underwriting models. Every property/casualty insurance 15 carrier authorized to do business in this state shall provide access to 16 its underwriting models to mutually agreed department staff, upon 17 request of the superintendent. 18 (c) Access to granular claim data. In the event that underwriting 19 models are not available, a property/casualty insurance carrier shall 20 provide access to granular claim data to mutually agreed department 21 staff, sufficient to allow the department to evaluate underwriting prac- 22 tices and risk assessment methodologies. 23 (d) Confidentiality. Information provided under this section shall be 24 subject to confidentiality protections consistent with applicable state 25 and federal law. Department staff shall maintain such information solely 26 for regulatory purposes. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16321-01-6 
 A. 11724 2 1 (e) Compliance. Failure to comply with this section shall constitute a 2 violation and may subject the property/casualty insurance carrier to 3 penalties under section one hundred nine of this chapter, including 4 fines, suspension, or revocation of license. 5 § 2. This act shall take effect on the ninetieth day after it shall 6 have become a law.