N.Y. Comp. Codes R. & Regs. tit. 11 § 19.4

Current through Register Vol. 46, No. 50, December 11, 2024

Section 19.4 - Reporting requirements

(a) Insurers shall report, on a quarterly basis, the following information relative to homeowners insurance policies:

(1) the number of policies in force at the beginning and end of each quarter;

(2) the number of policies written during each quarter;

(3) the number of cancelled or nonrenewed by the insured;

(4) the number of policies nonrenewed by the insurer;

(5) the number of policies transferred in and out of the company; and

(6) the number of producers authorized to service these policies on behalf of the insurer at the beginning and end of each quarter.

(b) This information, to be submitted in a format prescribed by the superintendent, shall be provided for:

(1) every county in the State;

(2) zip codes for areas within one mile of a saltwater shoreline, canal or bay in the counties of Queens, Kings, Richmond, Bronx or Westchester; and

(3) zip codes for areas where policies issued by the New York Property Insurance Underwriting Association have increased by an amount deemed significant by the superintendent.

(c) This information shall be submitted within 30 days of the end of each calendar quarter, starting September 30, 1996.

(d) An insurer with less than $500,000 in homeowners premiums written in New York State during the calendar year or which is subject to underwriting restrictions by its charter, shall, in lieu of the required quarterly reports, submit an affidavit sworn to by a responsible officer of the insurer specifying the amount of homeowners premiums written in New York State or the charter restrictions.

(e) An insurer not eligible for an exemption under subdivision (d) of this section may submit to the superintendent an exemption application, demonstrating that compliance with subdivisions (a), (b) and (d) of this section would cause it a financial or organizational hardship. An application for a hardship exemption must be filed with the superintendent prior to the end of the calendar year for which the exemption is being requested. The superintendent will render a written determination within 60 days after submission of such an application.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 19.4