Bill
A 11155
The bill requires all motor vehicle insurers to file annual detailed financial statements and aggregated claim data with the state, with CEO certification and public disclosure to
Title: Requires all motor vehicle insurers to file annual detailed financial and claim data statements with the superintendent of financial services
Jurisdiction: New York
Introduced: April 28, 2026
Status: Referred to the Committee on Insurance
Sponsors: Assembly member Rozic (co-sponsor Nily Rozic)
Effective date: Immediately
Purpose and intent
- The bill, titled the “Automobile Insurance Sunshine Act,” aims to increase transparency around the financial condition and solvency of motor vehicle insurers operating in New York.
- It asserts a public interest in disclosing the factors behind premium rates and insurer solvency to consumers and other stakeholders.
Key provisions
1) Scope and definitions
- Defines “insurer” as any entity authorized to issue motor vehicle insurance policies in New York.
2) Annual financial statements (Subtitle: Section 346(a)-(b))
- Due date: On or before April 1 of each year.
- Report: A detailed financial statement supplementing the statutory annual statement for the most recently completed calendar year.
- Coverage: Information on a combined basis for all lines, plus separate breakdowns for:
- Private passenger automobile: other liability, personal injury protection (PIP), physical damage
- Commercial automobile: other liability, PIP, physical damage
- Geographic scope: Includes all business activities in New York and those outside New York with a nexus to New York-insured risks, consistent with statutory reporting practices.
- Content requirements:
- Income: Itemized, actuarially sound breakdown of income sources (premiums, investment income, gains from asset sales, and other income as determined by the superintendent).
- Expenses: Detailed, including salaries, commissions, consulting, legal, advertising, and other pertinent expenses; at minimum, items from the underwriting and investment exhibit (Part 3) of the P/C statutory annual statement for New York operations.
- Salaries: Itemization of the 20 highest-compensated employees (names may be withheld).
- Claims: Synopsis of claims or settlements paid, by insurance type or risk, with geographical (zip code) detail; at minimum, items from the exhibit of premiums and losses of the P/C statutory annual statement, NYC primary applicability.
- Certification: Must be signed and attested as complete and accurate by the insurer’s CEO, who bears personal responsibility for accuracy.
- Submission method: The superintendent will provide an electronic submission method with instructions on electronic signatures (subject to existing statutory requirements).
3) Detailed closed claim information (Subtitle: Section 346(c))
- Due date: On or before April 1 of each year, for the same lines as above.
- Data granularity:
- Initially, use the most recent publicly available forms (Insurance Research Council Auto Injury Survey) until the superintendent develops formal data collection forms.
- The superintendent may require additional data if warranted; may also use statistically valid samples:
- Private passenger auto claims: minimum 5% sample
- Commercial auto claims: minimum 10% sample
- Certification: CEO must sign/attest the accuracy; personal responsibility for data accuracy.
- Submission method: Same as financial statements (electronic submission).
4) Public disclosure and accessibility (Subtitle: Section 346(d))
- Publication: Financial statements and aggregated detailed claim information will be made publicly available by the superintendent.
- Anonymity: Detailed claim data will be aggregated; no claim will be identifiable to a specific insurer or party.
- Accessibility: Information will be publicly available on the department’s website and in spreadsheet format; paper copies available for a fee upon request.
5) Annual reporting to legislators (Subtitle: Section 346(e))
- The superintendent must issue annual reports by July 1 summarizing the collected information.
- Copies of reports shall be sent to legislative leadership and insurance committee chairs.
- Reports are public documents.
6) Compliance and penalties (Subtitle: Section 346(f))
- Remedies for noncompliance include:
- Civil penalties up to $50,000 per violation
- Temporary suspension of rights to issue new policies/contracts until compliant
- Department audits (at insurer’s expense)
- Additional penalties for the signing officer
- The superintendent may take other warranted actions to achieve full compliance.
7) Rulemaking authority (Subtitle: Section 346(g))
- The superintendent may promulgate necessary rules and regulations, including emergency regulations if warranted.
Severability and effective date
- Severability clause included.
- Effective date: Immediately upon enactment.
Impact and considerations
Overall, A.11155 proposes a robust framework for transparency in New York motor vehicle insurance, balancing public access with protections for identifiable claim information.
Compiled from official sources — confirm details with the bill’s official record.
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