Legislation

* § 2356. Premium change explanations. (a) An insurer shall include a
notice accompanying the premium bill that includes the amount of the
premium increase from the prior policy period and a written explanation
for the premium increase, including the primary rating factors causing
the increase, for a covered policy as defined in paragraph one and in
subparagraph (A) of paragraph two of subsection (a) of section three
thousand four hundred twenty-five of this chapter, where the total
policy premium increase is in excess of ten percent, exclusive of any
premium increase due to insured value added.

(b) (1) Except when an insurer provides an explanation pursuant to
subsection (a) of this section, an insurer shall include a prominent
notice accompanying the premium bill, for a policy covering a motor
vehicle or a policy covering loss of or damage to real property used
predominantly for residential purposes, that states the following:
"Policyholders receiving an increase to their premiums at renewal may
request a written explanation, including the primary rating factors
causing the increase, by contacting their insurers in writing." An
insurer shall include its contact information with the prominent notice.

(2) Upon a policyholder's written request at policy renewal, an
insurer shall provide a written explanation for the increased premiums,
including the primary rating factors causing the increase, for a policy
covering a motor vehicle or a policy covering loss of or damage to real
property used predominantly for residential purposes. An insurer shall
provide the written explanation to the policyholder, including the
primary rating factors causing the increase, within twenty days from
receipt of the policyholder's written request.

(c) For the purpose of this section, primary rating factors shall
include factors that resulted in a premium rate increase, such as:

(1) individual claims history;

(2) changes made to the policy, including the policyholder adding or
replacing a vehicle, family members being added to the policy, or a
change in address;

(3) anticipated losses in the rating territory that would require a
need for an increased premium; and

(4) increased costs associated with claims, including the increased
cost of vehicle repairs, claims processing, or medical costs.

(d) If an insurer offering a private passenger automobile insurance
policy reduces premium rates due to the reforms of the state fiscal year
two thousand twenty-six -- two thousand twenty-seven budget, such
insurer shall provide notice to the policyholder of this rate reduction
and indicate that the reduction was due to the reforms of the state
fiscal year two thousand twenty-six -- two thousand twenty-seven budget.

* NB Effective August 24, 2026