Insurance

Requires property/casualty insurance companies to submit information on multifamily housing premiums and claims paid to the department of financial services.

Extends the effectiveness of certain provisions providing for increased supplementary uninsured/underinsured motorist (SUM) insurance coverage to June 30, 2029.

This bill extends the expiration dates of several temporary provisions in New York's insurance laws that were originally set to end in 2026. The changes directly affect property and casualty insurers, insurance agents, and policyholders by delaying when certain rules regarding rate filings and nonrenewal notices will no longer apply. Specifically, the bill keeps in place requirements for how insurance rates are filed and approved, as well as rules governing when insurers can stop renewing automobile policies, ensuring these regulations remain active until at least June 30, 2029. Additionally, the bill ensures that the New York Property Insurance Underwriting Association continues to service existing policies even after the expiration of some of its temporary authorities.

Addresses non-covered dental services by requiring all policies providing coverage of and all contracts for dental services issued to include a disclosure stating that a participating provider may charge their normal fee for services that are not covered; requires a cost estimate to be provided.

Permits licensed insurance agents, brokers, adjusters, consultants, and intermediaries to carryover up to five hours of continuing education credit per biennial licensing period.