Senate Bill S8583

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8583
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             November 17, 2025
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN  ACT  to  amend  the  insurance  law,  in   relation   to   requiring
   property/casualty insurance companies to submit certain zip code-level
   data,  market  share  data,  and  information about models and scoring
   methods used for catastrophes to the department of financial services;
   to amend the insurance law, in relation to requiring an annual  report
   on  the housing insurance market for multifamily and nonprofit housing
   providers; to amend the insurance law, in relation  to  authorizing  a
   premium  discount  to policyholders who demonstrate certain mitigation
   actions; to amend the insurance law, in relation   to  the  timing  of
   cancellation   and   nonrenewal  notices   for certain insurance poli-
   cies; and to amend  the  insurance  law,  in  relation  to  increasing
   membership  of  the  board  governing  the New York property insurance
   underwriting association and to requiring a quadrennial report on  the
   activities of such association
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The insurance law is amended by adding a new  section  4122
 to read as follows:
   §  4122. REPORTING REQUIREMENTS FOR PROPERTY/CASUALTY INSURANCE COMPA-
 NIES.  (A) FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "CATASTROPHE MODEL" MEANS A TOOL, INSTRUMENTALITY, MEANS, OR PROD-
 UCT,  INCLUDING A MAP-BASED TOOL, A COMPUTER-BASED TOOL, OR A SIMULATION
 THAT IS USED BY AN INSURER TO ESTIMATE POTENTIAL LOSSES FROM CATASTROPH-
 IC EVENTS.
   (2) "COMMUNITY-LEVEL MITIGATION ACTION" MEANS  A  SCIENCE-BASED  MITI-
 GATION  ACTION  AS  DEMONSTRATED  BY  A  COMMUNITY OR NEIGHBORHOOD LEVEL
 DESIGNATION OR CERTIFICATION OR AS UNDERTAKEN BY A GOVERNMENT ENTITY.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13906-06-5
 S. 8583                             2
              

 
   (3) "PROPERTY-SPECIFIC MITIGATION ACTION" MEANS A SCIENCE-BASED  MITI-
 GATION ACTION THAT INCLUDES A VERIFICATION AND CERTIFICATION PROCESS.
   (4)  "NATURAL  DISASTER  RISK  MODEL"  MEANS  A TOOL, INSTRUMENTALITY,
 MEANS, OR PRODUCT, INCLUDING A MAP-BASED TOOL, A COMPUTER-BASED TOOL, OR
 A SIMULATION, THAT IS USED BY AN INSURER IN WHOLE OR IN PART, TO MEASURE
 OR ASSESS THE NATURAL DISASTER RISK ASSOCIATED WITH A RESIDENTIAL  PROP-
 ERTY  OR  COMMUNITY  FOR  PURPOSES  OF  RATING, CLASSIFYING, PRICING, OR
 UNDERWRITING, INCLUDING BUT NOT LIMITED TO WRITING  OR  RENEWING  INSUR-
 ANCE,  BASED  ON  NATURAL  DISASTER  RISK  OR ESTIMATING RISKS OR LOSSES
 CORRESPONDING TO THE NATURAL DISASTER RISK CLASSIFICATIONS.
   (5) "NATURAL  DISASTER" MEANS THE OCCURRENCE  OR  IMMINENT  THREAT  OF
 WIDESPREAD  CATASTROPHIC  OR  SEVERE  DAMAGE, INJURY, OR LOSS OF LIFE OR
 PROPERTY RESULTING FROM ANY NATURAL CAUSE INCLUDING, BUT NOT LIMITED TO,
 FIRE, FLOOD, EARTHQUAKE,  HURRICANE,  TORNADO,  HIGH  WATER,  LANDSLIDE,
 MUDSLIDE,  WIND,  STORM,  WAVE  ACTION,  ICE   STORM, AIR CONTAMINATION,
 BLIGHT, DROUGHT, INFESTATION,  EXPLOSION,  WATER  CONTAMINATION,  BRIDGE
 FAILURE, OR BRIDGE COLLAPSE.
   (B)  EVERY  PROPERTY/CASUALTY INSURANCE COMPANY DOING BUSINESS IN THIS
 STATE SHALL SUBMIT THE FOLLOWING INFORMATION TO THE DEPARTMENT:
   (1) ZIP CODE-LEVEL DATA ON THE FOLLOWING TOPICS:
   (A) NONRENEWAL RATES;
   (B) NONPAYMENT CANCELLATION RATES;
   (C) OTHER CANCELLATION RATES;
   (D) CLAIM FREQUENCY RATES;
   (E) AVERAGE CLAIM AMOUNTS;
   (F) PAID LOSS RATIOS; AND
   (G) AVERAGE PREMIUMS;
   (2) MARKET SHARE DATA; AND
   (3) IF UTILIZED, THE NATURAL DISASTER RISK MODEL OR CATASTROPHE  MODEL
 OR SCORING METHOD USED TO ASSIGN RISK.
   (A)  THE  FOLLOWING INFORMATION ABOUT A NATURAL DISASTER RISK MODEL OR
 CATASTROPHE MODEL OR SCORING METHOD SHALL BE SUBMITTED:
   (I) A DESCRIPTION OF SUCH MODEL OR METHOD;
   (II) THE IMPACT OF SUCH MODEL OR METHOD ON RATES;
   (III) AN ACTUARIAL JUSTIFICATION FOR  ALL  RATING  FACTORS,  INCLUDING
 MITIGATION DISCOUNTS OFFERED; AND
   (IV)  AN EXPLANATION OF THE USE OF THE MODEL OR METHOD IN UNDERWRITING
 DECISIONS.
   (B) ANY MODEL OR METHOD SUBMITTED TO THE DEPARTMENT PURSUANT  TO  THIS
 PARAGRAPH SHALL BE TREATED AS A TRADE SECRET AND SHALL NOT BE SUBJECT TO
 DISCLOSURE UNDER ARTICLE SIX OF THE PUBLIC OFFICERS LAW.
   (C) ANY PROPERTY/CASUALTY INSURANCE COMPANY THAT USES A NATURAL DISAS-
 TER  RISK  MODEL,  A CATASTROPHE MODEL, OR A COMBINATION OF MODELS SHALL
 ENSURE THE FOLLOWING FACTORS ARE  EITHER  INCORPORATED  IN  THE  NATURAL
 DISASTER  RISK MODEL, CATASTROPHE MODEL, OR COMBINATION OF MODELS OR ARE
 OTHERWISE DEMONSTRABLY  INCLUDED  IN  SUCH  PROPERTY/CASUALTY  INSURANCE
 COMPANY'S UNDERWRITING AND PRICING:
   (I) PROPERTY-SPECIFIC MITIGATION ACTIONS SUCH AS ESTABLISHING DEFENSI-
 BLE  SPACE,  INCORPORATING  BUILDING  HARDENING  MEASURES,  OR RECEIVING
 CERTIFICATION FROM AN ENTITY WITH EXPERIENCE IN MITIGATION OF PROPERTIES
 AGAINST NATURAL DISASTERS; AND
   (II) COMMUNITY-LEVEL MITIGATION ACTIVITIES OR DESIGNATIONS,  INCLUDING
 FOREST TREATMENT AND OTHER FUEL REDUCTION ACTIVITIES.
   (D) ANY PROPERTY/CASUALTY INSURANCE COMPANY THAT USES A NATURAL DISAS-
 TER  RISK  MODEL OR A CATASTROPHE MODEL OR SCORING METHOD TO ASSIGN RISK
 SHALL ALSO INCLUDE THE INFORMATION REQUIRED IN SUBPARAGRAPH (A) OF  THIS
 S. 8583                             3
 
 PARAGRAPH  IN  ANY  RATE  FILING SUBMITTED TO THE SUPERINTENDENT BY SUCH
 PROPERTY/CASUALTY INSURANCE COMPANY.
   (C)  THE DEPARTMENT SHALL CREATE AND MAINTAIN A PUBLIC-FACING DATABASE
 WHERE POLICYHOLDERS CAN  ACCESS  THE  MARKET  SHARE  DATA  SUBMITTED  BY
 PROPERTY/CASUALTY  INSURANCE  COMPANIES  PURSUANT  TO  PARAGRAPH  TWO OF
 SUBSECTION (B) OF THIS SECTION.
   § 2. The insurance law is amended by adding a new section 3463 to read
 as follows:
   § 3463. REPORT ON THE HOUSING INSURANCE  MARKET  FOR  MULTIFAMILY  AND
 NONPROFIT  HOUSING  PROVIDERS.  (A)  DEFINITIONS.  FOR  PURPOSES OF THIS
 SECTION:
   (1) "MULTIFAMILY RESIDENTIAL BUILDING"  MEANS  A  PROPERTY  CONTAINING
 FIVE OR MORE DWELLING UNITS.
   (2)  "NONPROFIT  HOUSING  PROVIDER"  MEANS  ORGANIZATIONS DESCRIBED BY
 SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE, CHARITABLE
 CORPORATIONS AS DEFINED IN PARAGRAPH (A) OF SECTION ONE HUNDRED  TWO  OF
 THE  NOT-FOR-PROFIT CORPORATION LAW AND FORMED PURSUANT TO PARAGRAPH (A)
 OF SECTION TWO HUNDRED ONE OF THE NOT-FOR-PROFIT  CORPORATION  LAW,  AND
 ORGANIZATIONS  DESCRIBED  BY SECTION TWO HUNDRED SIXTEEN-A OF THE EDUCA-
 TION LAW THAT OWN OR OPERATE RESIDENTIAL HOUSING IN NEW YORK.
   (3) "AFFORDABLE HOUSING DEVELOPMENT" MEANS A RESIDENTIAL BUILDING WITH
 UNITS REQUIRED TO  BE  AFFORDABLE  BY  STATUTE,  REGULATION,  REGULATORY
 AGREEMENT, OR RECORDED COVENANT.
   (4)  "EXCESS  LINE INSURANCE" HAS THE SAME MEANING AS IN ARTICLE TWEN-
 TY-ONE OF THIS CHAPTER.
   (5) "INSURER" MEANS AN AUTHORIZED INSURER WRITING PROPERTY OR  LIABIL-
 ITY  COVERAGE  ON RESIDENTIAL BUILDINGS AND INCLUDES REPORTING BY EXCESS
 LINE PLACEMENTS THROUGH THE EXCESS  LINE  ASSOCIATION  OF  NEW  YORK  AS
 PROVIDED BY REGULATION.
   (B)  ANNUAL  JOINT REPORT. (1) THE SUPERINTENDENT AND THE COMMISSIONER
 OF HOMES AND COMMUNITY RENEWAL SHALL SUBMIT A JOINT REPORT  DETAILED  IN
 SUBDIVISION  (C) OF THIS SECTION ON OR BEFORE OCTOBER FIRST OF EACH YEAR
 TO THE GOVERNOR, THE TEMPORARY PRESIDENT OF THE SENATE, AND THE  SPEAKER
 OF THE ASSEMBLY, AND POST IT ON THEIR WEBSITES.
   (2)  THE  REPORT  SHALL  ANALYZE THE AVAILABILITY, PRICING, TERMS, AND
 AFFORDABILITY OF PROPERTY AND LIABILITY INSURANCE FOR MULTIFAMILY  RESI-
 DENTIAL  BUILDINGS  OWNED  OR  OPERATED  BY NONPROFIT AND MISSION-DRIVEN
 ENTITIES, INCLUDING AFFORDABLE HOUSING DEVELOPMENTS.
   (3) THE REPORT SHALL INCLUDE STATEWIDE AND REGIONAL RESULTS, WITH  NEW
 YORK CITY REPORTED SEPARATELY FROM THE REST OF THE STATE.
   (C)  REQUIRED CONTENTS. THE REPORT SHALL PRESENT, AT A MINIMUM, AGGRE-
 GATED STATISTICS FOR THE PRIOR CALENDAR YEAR ON:
   (1) PREMIUM LEVELS AND CHANGES, INCLUDING AVERAGE AND  MEDIAN  PREMIUM
 PER UNIT AND SQUARE FOOT, AND PREMIUM AS A SHARE OF OPERATING EXPENSES.
   (2)  COVERAGE  AVAILABILITY  AND MARKET CHANNEL, INCLUDING NON-RENEWAL
 AND DECLINATION COUNTS, THE SHARE PLACED IN THE EXCESS-LINE MARKET,  AND
 USE OF NEW YORK PROPERTY INSURANCE UNDERWRITING ASSOCIATION.
   (3) DEDUCTIBLES BY PERIL AND TREND.
   (4)  COMMON  EXCLUSIONS  AND  LIMITATIONS,  INCLUDING  NEW OR EXPANDED
 EXCLUSIONS INTRODUCED IN THE REPORTING YEAR.
   (5) COVERAGE LIMITS RELATIVE TO REPORTED REPLACEMENT COST.
   (6) CLAIMS FREQUENCY AND SEVERITY FOR FIRE, WATER, WIND,  AND  LIABIL-
 ITY, TO THE EXTENT AVAILABLE.
   (7)  DOCUMENTED  AFFORDABILITY  IMPACTS IN THE DIVISION OF HOUSING AND
 COMMUNITY  RENEWAL  PORTFOLIOS,  INCLUDING   RENT-PRESSURE   INDICATORS,
 S. 8583                             4
 
 RESERVE  DRAWS,  OR  CAPITAL-PLAN  DEFERRALS LINKED TO INSURANCE EXPENSE
 CHANGES.
   (8)   RISK-MITIGATION  CREDITS  AND  BUILDING  RESILIENCY  INVESTMENTS
 REPORTED BY OWNERS AND RECOGNIZED BY INSURERS.
   (9) REGIONAL HEAT-MAP SUMMARIES OF MARKET STRESS USING THE METHODOLOGY
 SET BY THE DEPARTMENT BY BULLETIN OR CIRCULAR LETTER. THE DEPARTMENT MAY
 ALIGN WITH THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS'  MARKET-
 INTELLIGENCE DATA ELEMENTS.
   (D)  DATA  COLLECTION  AND CONFIDENTIALITY. (1) THE SUPERINTENDENT MAY
 REQUIRE SPECIAL REPORTS UNDER SECTION THREE HUNDRED EIGHT OF THIS  CHAP-
 TER AND MAY CONSOLIDATE REQUESTS WITH EXISTING DEPARTMENT DATA CALLS.
   (2)  THE  DEPARTMENT  MAY  REQUIRE  GRANTEES, BORROWERS, AND REGULATED
 OWNERS TO PROVIDE INSURANCE EXPENSE AND COVERAGE DATA AS A CONDITION  OF
 ASSISTANCE.
   (3)  SUBMISSIONS THAT CONSTITUTE TRADE SECRETS OR SENSITIVE COMMERCIAL
 INFORMATION ARE CONFIDENTIAL UNDER PARAGRAPH (D) OF SUBDIVISION  TWO  OF
 SECTION  EIGHTY-SEVEN  OF  THE PUBLIC OFFICERS LAW. THE PUBLISHED REPORT
 SHALL CONTAIN ONLY AGGREGATED, DE-IDENTIFIED STATISTICS AND ANALYSIS.
   (4) THE DEPARTMENT SHALL CONSULT WITH EXCESS LINE AND NEW YORK PROPER-
 TY INSURANCE UNDERWRITING ASSOCIATION REGARDING REPORTING  FORMATS  THAT
 CAPTURE  EXCESS-LINE PLACEMENTS AND ASSIGNED-RISK ACTIVITY WITHOUT IDEN-
 TIFYING INDIVIDUAL INSUREDS.
   (E) THE DIVISION OF HOUSING AND COMMUNITY  RENEWAL.  THE  DIVISION  OF
 HOUSING  AND  COMMUNITY  RENEWAL  SHALL COOPERATE WITH THE DEPARTMENT IN
 PRODUCING THE JOINT REPORT, INCLUDING COLLECTING PORTFOLIO-LEVEL  INSUR-
 ANCE  EXPENSE AND COVERAGE DATA FROM REGULATED ENTITIES THROUGH EXISTING
 REPORTING SYSTEMS. THE DIVISION OF HOUSING AND COMMUNITY  RENEWAL  SHALL
 PUBLISH  NON-CONFIDENTIAL  AGGREGATED  STATISTICS  AND PROVIDE TECHNICAL
 ASSISTANCE TO OWNERS ON RISK-MITIGATION PRACTICES RECOGNIZED  BY  INSUR-
 ERS.
   (F)  RULEMAKING.  THE  DEPARTMENT  MAY  ADOPT  REGULATIONS OR CIRCULAR
 LETTERS  TO  IMPLEMENT  THIS  SECTION,  HARMONIZE  DATA  STANDARDS  WITH
 NATIONAL  ASSOCIATION OF INSURANCE COMMISSIONERS AND OTHER STATES, LIMIT
 THE BURDEN ON SMALL INSURERS, AND ENSURE DATA QUALITY. THE  DIVISION  OF
 HOUSING  AND  COMMUNITY  RENEWAL  MAY  ISSUE  GUIDANCE  TO PARTICIPATING
 OWNERS.
   (G) NO PRIVATE RIGHT OF ACTION. NOTHING  IN  THIS  SECTION  CREATES  A
 PRIVATE RIGHT OF ACTION.
   §  3.  The  insurance law is amended by adding a new section 2346-b to
 read as follows:
   § 2346-B. HOMEOWNERS INSURANCE OR PROPERTY/CASUALTY  INSURANCE;  MITI-
 GATION  ACTION. 1. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "COMMUNITY-LEVEL MITIGATION ACTION" MEANS  A  SCIENCE-BASED  MITI-
 GATION  ACTION  AS  DEMONSTRATED  BY  A  COMMUNITY OR NEIGHBORHOOD-LEVEL
 DESIGNATION OR CERTIFICATION OR AS UNDERTAKEN BY A GOVERNMENT ENTITY;
   (B) "NATURAL DISASTER" MEANS THE  OCCURRENCE  OR  IMMINENT  THREAT  OF
 WIDESPREAD  CATASTROPHIC  OR  SEVERE  DAMAGE, INJURY, OR LOSS OF LIFE OR
 PROPERTY RESULTING FROM ANY NATURAL CAUSE INCLUDING, BUT NOT LIMITED TO,
 FIRE, FLOOD, EARTHQUAKE,  HURRICANE,  TORNADO,  HIGH  WATER,  LANDSLIDE,
 MUDSLIDE,  WIND,  STORM,  WAVE  ACTION,  ICE  STORM,  AIR CONTAMINATION,
 BLIGHT, DROUGHT, INFESTATION,  EXPLOSION,  WATER  CONTAMINATION,  BRIDGE
 FAILURE, OR BRIDGE COLLAPSE;
   (C)  "NATURAL  DISASTER  RISK  MODEL" MEANS A   TOOL, INSTRUMENTALITY,
 MEANS, OR PRODUCT, INCLUDING A MAP-BASED TOOL, A COMPUTER-BASED TOOL, OR
 A SIMULATION, THAT IS USED BY AN INSURER IN WHOLE OR IN PART, TO MEASURE
 S. 8583                             5
 
 OR ASSESS THE NATURAL DISASTER RISK ASSOCIATED WITH A RESIDENTIAL  PROP-
 ERTY  OR COMMUNITY FOR PURPOSES OF RATING, CLASSIFYING, OR PRICING BASED
 ON NATURAL DISASTER RISK OR ESTIMATING RISKS OR LOSSES CORRESPONDING  TO
 THE NATURAL DISASTER RISK CLASSIFICATIONS; AND
   (D)  "PROPERTY-SPECIFIC MITIGATION ACTION" MEANS A SCIENCE-BASED MITI-
 GATION ACTION THAT INCLUDES A VERIFICATION AND CERTIFICATION PROCESS.
   2. THE SUPERINTENDENT SHALL PROVIDE  FOR  AN  ACTUARIALLY  APPROPRIATE
 REDUCTION   IN   THE   RATES   OF   HOMEOWNERS  INSURANCE  PREMIUMS  AND
 PROPERTY/CASUALTY INSURANCE  PREMIUMS  APPLICABLE  TO  RESIDENTIAL  REAL
 PROPERTY  FOR  POLICYHOLDERS  WHO CAN DEMONSTRATE THAT PROPERTY-SPECIFIC
 MITIGATION ACTIONS HAVE BEEN UNDERTAKEN ON THE  PROPERTY  OR  COMMUNITY-
 LEVEL MITIGATION ACTIONS HAVE BEEN UNDERTAKEN IN SUFFICIENT PROXIMITY TO
 THE  PROPERTY  TO  REDUCE  THE RISK OF LOSS FROM A NATURAL DISASTER. THE
 SUPERINTENDENT SHALL BY REGULATION ESTABLISH A PROCESS FOR POLICYHOLDERS
 TO DEMONSTRATE SUCH MITIGATION ACTIONS HAVE OCCURRED.
   3. AN INSURER SHALL POST ON  ITS  PUBLIC  WEBSITE  READILY  ACCESSIBLE
 INFORMATION  ON  THE  PREMIUM  DISCOUNTS,  INCENTIVES  OR  OTHER PREMIUM
 ADJUSTMENTS THAT ARE AVAILABLE TO POLICYHOLDERS OF HOMEOWNERS  INSURANCE
 OR  PROPERTY/CASUALTY  INSURANCE APPLICABLE TO RESIDENTIAL REAL PROPERTY
 WHO UNDERTAKE PROPERTY-SPECIFIC MITIGATION ACTIONS OR  PROVIDE  EVIDENCE
 OF  COMMUNITY-LEVEL  MITIGATION  ACTIONS. THE WEBSITE SHALL IDENTIFY, AS
 APPLICABLE:
   (A) PROPERTY-SPECIFIC  MITIGATION  ACTIONS  FOR  THE  POLICYHOLDER  TO
 UNDERTAKE  AND  COMMUNITY-LEVEL MITIGATION ACTIONS, AS DETERMINED BY THE
 SUPERINTENDENT, THAT COULD RESULT IN A  DISCOUNT,  INCENTIVE,  OR  OTHER
 PREMIUM ADJUSTMENT; AND
   (B) THE AMOUNT OF THE DISCOUNT, INCENTIVE, OR OTHER PREMIUM ADJUSTMENT
 ASSOCIATED WITH EACH ACTION.
   4.  (A)  AN INSURER THAT PROVIDES A MITIGATION DISCOUNT OR THAT USES A
 NATURAL DISASTER RISK MODEL  OR  RISK  SCORE  TO  UNDERWRITE,  NONRENEW,
 PRICE,  CREATE  A RATE DIFFERENTIAL, OR SURCHARGE THE PREMIUM BASED UPON
 THE POLICYHOLDER'S OR APPLICANT'S NATURAL DISASTER RISK SHALL PROVIDE AN
 ANNUAL WRITTEN NOTICE TO EACH POLICYHOLDER OR APPLICANT UPON APPLICATION
 FOR INSURANCE OF THE APPLICABLE MITIGATION DISCOUNTS, THE NATURAL DISAS-
 TER RISK SCORE, AND ANY OTHER NATURAL DISASTER RISK CLASSIFICATION  USED
 BY  THE  INSURER TO UNDERWRITE, NONRENEW, PRICE, CREATE A RATE DIFFEREN-
 TIAL, OR SURCHARGE THE PREMIUM BASED UPON THE POLICYHOLDER'S  OR  APPLI-
 CANT'S NATURAL DISASTER RISK.
   (B) SUCH NOTICE SHALL INCLUDE:
   (I) A PLAIN-LANGUAGE EXPLANATION OF THE NATURAL DISASTER RISK SCORE OR
 OTHER  NATURAL  DISASTER  RISK  CLASSIFICATION, INCLUDING AN EXPLANATION
 THAT INSURERS MAY USE DIFFERENT MODELS AND  HAVE  DIFFERENT  RISK  SCORE
 CHANGES THAT COULD RESULT IN DIFFERENT RISK SCORES FROM OTHER INSURERS;
   (II) THE RANGE OF THE SCORES OR CLASSIFICATIONS THAT COULD POTENTIALLY
 BE ASSIGNED TO THE PROPERTY;
   (III) THE RELATIVE POSITION OF THE SCORE OR CLASSIFICATION ASSIGNED TO
 THE  PROPERTY  WITHIN  THAT  RANGE OF POSSIBLE SCORES OR CLASSIFICATIONS
 PROVIDED BY THE INSURER'S RISK MODEL;
   (IV) A WRITTEN  EXPLANATION  OF  WHY  THE  POLICYHOLDER  OR  APPLICANT
 RECEIVED THE ASSIGNED SCORE OR CLASSIFICATION THAT IDENTIFIES THE PRIMA-
 RY  FEATURES OF THE PROPERTY THAT INFLUENCED THE ASSIGNMENT OF THE SCORE
 OR CLASSIFICATION; AND
   (V) THE IMPACT, IF ANY,  THAT  EACH  PROPERTY-SPECIFIC  MITIGATION  OR
 COMMUNITY-LEVEL  MITIGATION ACTION COULD HAVE ON A NATURAL DISASTER RISK
 SCORE OR CLASSIFICATION ASSIGNED TO THE PROPERTY.
 S. 8583                             6
 
   5. THE INSURER SHALL PROVIDE THE NATURAL DISASTER RISK SCORE OR  CLAS-
 SIFICATION TO THE POLICYHOLDER OR THE APPLICANT:
   (A) FOR APPLICANTS, NO LATER THAN FIFTEEN DAYS AFTER THE SUBMISSION OF
 THE APPLICANT'S COMPLETED APPLICATION TO THE INSURER;
   (B) FOR POLICYHOLDERS, IN THE OFFER OF RENEWAL;
   (C)  FOR  POLICYHOLDERS THAT ARE NOT BEING OFFERED A RENEWAL, WITH THE
 NONRENEWAL NOTICE; AND
   (D) FOR A POLICYHOLDER OR APPLICANT, IF THE POLICYHOLDER OR  APPLICANT
 HAS COMPLETED A PROPERTY-SPECIFIC MITIGATION ACTION OR PROVIDES EVIDENCE
 OF  A  COMMUNITY-LEVEL  MITIGATION ACTION IN SUFFICIENT PROXIMITY TO THE
 PROPERTY TO REDUCE THE RISK OF LOSS SINCE THE TIME OF THE LAST  APPLICA-
 TION  TO  OR RENEWAL BY THE INSURER, NO LATER THAN THIRTY DAYS AFTER THE
 SUBMISSION TO THE INSURER OF THE POLICYHOLDER'S OR  APPLICANT'S  REQUEST
 THAT  THE  INSURER PROVIDE A REVISED NATURAL DISASTER RISK SCORE OR RISK
 CLASSIFICATION.
   6. A POLICYHOLDER OR APPLICANT FOR A POLICY OF INSURANCE WHOSE NATURAL
 DISASTER RISK MODEL SCORE, NATURAL DISASTER RISK CLASSIFICATION ASSIGNED
 TO THE PROPERTY, OR APPLICABLE MITIGATION  DISCOUNT  IS  INACCURATE  AND
 PROVIDES EVIDENCE OF THE PROPERTY-SPECIFIC OR COMMUNITY-LEVEL MITIGATION
 ACTION  MAY  APPEAL THE SCORE DIRECTLY TO THE INSURER. THE INSURER SHALL
 NOTIFY THE POLICYHOLDER OR APPLICANT IN WRITING OF THE RIGHT  TO  APPEAL
 THE  NATURAL  DISASTER RISK SCORE OR OTHER NATURAL DISASTER RISK CLASSI-
 FICATION OR APPLICABLE MITIGATION DISCOUNT WHEN THE SCORE OR CLASSIFICA-
 TION OR DISCOUNT  IS  PROVIDED  TO  THE  POLICYHOLDER  OR  APPLICANT  AS
 REQUIRED  BY  THIS SECTION. IF THE POLICYHOLDER OR APPLICANT APPEALS THE
 NATURAL DISASTER RISK SCORE OR OTHER NATURAL DISASTER  RISK  CLASSIFICA-
 TION  OR  APPLICABLE  DISCOUNT, THE INSURER SHALL ACKNOWLEDGE RECEIPT OF
 THE APPEAL IN WRITING WITHIN TEN CALENDAR  DAYS  AFTER  RECEIPT  OF  THE
 APPEAL.    THE  INSURER  SHALL  RESPOND  TO THE APPEAL IN WRITING WITH A
 RECONSIDERATION AND DECISION WITHIN THIRTY CALENDAR DAYS AFTER RECEIVING
 THE APPEAL. IF AN APPEAL IS DENIED, THE INSURER SHALL, UPON  REQUEST  BY
 THE  SUPERINTENDENT,  FORWARD  A  COPY  OF  THE APPEAL AND THE INSURER'S
 RESPONSE, TO THE SUPERINTENDENT.
   § 4. Paragraphs 12 and 13 of subsection (b) of  section  2305  of  the
 insurance  law, as amended by section 9 of part AAA of chapter 59 of the
 laws of 2017, are amended and a new paragraph 14 is  added  to  read  as
 follows:
   (12) gap insurance; [and]
   (13)  private  passenger  automobile  insurance, except as provided in
 section two thousand three hundred fifty of this article[,]; AND
   (14) HOMEOWNERS INSURANCE OR PROPERTY/CASUALTY INSURANCE APPLICABLE TO
 RESIDENTIAL REAL PROPERTY AS IT RELATES TO THE  INCLUSION  OF  PROPERTY-
 SPECIFIC  MITIGATION  ACTIONS  AND COMMUNITY-LEVEL MITIGATION ACTIONS IN
 THE CALCULATION OF SUCH RATES,
   § 5. Paragraphs 1 and 2 of subsection  (d)  of  section  3425  of  the
 insurance law are amended to read as follows:
   (1) Unless the insurer, at least [forty-five] NINETY but not more than
 [sixty]  ONE  HUNDRED  TWENTY  days  in advance of the end of the policy
 period FOR NONRENEWAL OR CONDITIONAL RENEWAL OR THE EFFECTIVE  DATE  FOR
 CANCELLATION,  mails  or  delivers  to the named insured, at the address
 shown in the policy, a written notice of its intention not  to  renew  a
 covered  policy,  [or] to condition its renewal upon change of limits or
 elimination of any coverages, OR TO CANCEL THE POLICY, the named insured
 shall be entitled to renew the policy upon timely payment of the premium
 billed to the insured for the renewal. The specific  reason  or  reasons
 for nonrenewal or conditioned renewal shall be stated in or shall accom-
 S. 8583                             7
 
 pany  the  notice.  THE  SPECIFIC  REASON OR REASONS FOR CANCELLATION AS
 PROVIDED IN SUBSECTION (C) OF THIS SECTION SHALL BE STATED IN  OR  SHALL
 ACCOMPANY  THE  NOTICE.  This  paragraph  shall not apply when the named
 insured,  an  agent  or  broker  authorized  by the named insured, or an
 insurer of the named insured, has mailed or delivered written notice  to
 the insurer that the policy has been replaced or is no longer desired.
   (2)  If an insurer has the right to cancel a policy it may, in lieu of
 cancellation, condition continuation  of  such  policy  upon  change  of
 limits  or  elimination  of any coverage not required by law, if written
 notice of such intention is mailed or delivered to the  insured  at  the
 address  shown  in the policy at least [twenty] NINETY days prior to the
 effective date of such action.
   § 6. The opening paragraph of subsection (c) of section  3426  of  the
 insurance law, as amended by chapter 235 of the laws of 1989, is amended
 to read as follows:
   After  a  covered  policy  has  been  in  effect for sixty days unless
 cancelled pursuant to subsection (b) of this section, or on or after the
 effective date if such policy is a renewal, no  notice  of  cancellation
 shall  become effective until [fifteen] NINETY days after written notice
 is mailed or delivered to the first-named insured and to such  insured's
 authorized  agent  or  broker,  and such cancellation is based on one or
 more of the following:
   § 7. Paragraphs 3 and 4 of subsection  (a)  of  section  3462  of  the
 insurance  law,  as  added  by section 1 of part BB of chapter 56 of the
 laws of 2024, are amended and a new paragraph 5  is  added  to  read  as
 follows:
   (3)  The  level  or source of income of the tenants of the residential
 building or the shareholders of a cooperative housing corporation; [or]
   (4) Whether such residential building is  owned  by  a  limited-equity
 cooperative;  owned by a public housing authority; or owned by a cooper-
 ative housing corporation subject to  the  provisions  of  article  two,
 article  four,  article  five  or  article eleven of the private housing
 finance law[.]; OR
   (5) THE RESIDENTIAL BUILDING IS LOCATED IN A DISADVANTAGED  COMMUNITY,
 AS IDENTIFIED PURSUANT TO SECTION 75-0111 OF THE ENVIRONMENTAL CONSERVA-
 TION  LAW. AN INSURER WHO CANCELS, REFUSES TO ISSUE, REFUSES TO RENEW OR
 INCREASE THE PREMIUM OF A POLICY, OR  EXCLUDES,  LIMITS,  RESTRICTS,  OR
 REDUCES  COVERAGE UNDER A POLICY FOR A RESIDENTIAL BUILDING LOCATED IN A
 DISADVANTAGED COMMUNITY  SHALL  PROVIDE  ACTUARIAL  INFORMATION  TO  THE
 INSURED OR APPLICANT TO SUPPORT SUCH ACTION.
   §  8.  Subsection (b) of section 5402 of the insurance law, as amended
 by chapter 42 of the laws of 1996, is amended to read as follows:
   (b) The association shall be governed by a board of  [thirteen]  TWEN-
 TY-THREE  directors, ten of whom shall be elected annually by cumulative
 voting by the members of the association, whose votes in  such  election
 shall  be  weighted in accordance with each member's net direct premiums
 written during the preceding calendar year. AN ADDITIONAL SIX  DIRECTORS
 SHALL  BE  APPOINTED  ANNUALLY  BY THE LEGISLATURE, TWO BY THE TEMPORARY
 PRESIDENT OF THE SENATE, TWO BY THE SPEAKER OF THE ASSEMBLY, ONE BY  THE
 MINORITY  LEADER  OF  THE  SENATE  AND ONE BY THE MINORITY LEADER OF THE
 ASSEMBLY. FOUR DIRECTORS SHALL BE APPOINTED ANNUALLY BY THE GOVERNOR AND
 TWO OF SUCH DIRECTORS SHALL BE REPRESENTATIVES OF CONSUMERS. The remain-
 ing three directors shall be appointed annually  by  the  superintendent
 and be duly licensed insurance agents or brokers representative of broad
 segments of the public obtaining insurance through the association.
 S. 8583                             8
 
   §  9.  Subsection (g) of section 5402 of the insurance law, as amended
 by chapter 182 of the laws of 2023, is amended to read as follows:
   (g)  In  addition  to  fire insurance, extended coverage, coverage for
 additional perils and homeowners  insurance  should  the  same  be  made
 available  through the association in accordance with a determination of
 necessity pursuant to section five thousand four hundred twelve of  this
 article,  the  association  may  offer broad form coverage to applicants
 seeking to insure real property at fixed locations of this state, or the
 tangible personal property located thereon. The  association  may  offer
 broad  form coverage until June thirtieth, two thousand twenty-eight. On
 or before October first, two thousand  twenty-seven  the  superintendent
 shall  require the association to report to the superintendent as to the
 number of policies written pursuant to  this  subsection  and  paragraph
 three  of  subsection  (f) of section five thousand four hundred five of
 this article, and any other information the superintendent may  require.
 On  or  before  January first, two thousand twenty-eight, AND EVERY FOUR
 YEARS THEREAFTER, the superintendent shall report to  the  governor  and
 the legislature regarding the number of policies issued pursuant to this
 section  and  such  paragraph, THE GEOGRAPHIC LOCATION OF SUCH POLICIES,
 THE TYPES OF POLICIES OFFERED, THE COVERAGE  LIMITS  OF  SUCH  POLICIES,
 RISK REDUCTION INVESTMENTS, INFORMATION ON THE FINANCIAL STANDING OF THE
 ASSOCIATION  and  [shall include] recommendations as to the continuation
 of such insurance offerings.
   § 10. This act shall take effect on  the  one  hundred  eightieth  day
 after  it  shall have become a law. Effective immediately, the addition,
 amendment and/or repeal of any rule  or  regulation  necessary  for  the
 implementation  of  this  act on its effective date are authorized to be
 made and completed on or before such effective date.