S 9942

                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
                                   9942
                             I N  S E N A T E
                              April 16, 2026
                                ___________
 Introduced  by  Sen.  BAILEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 AN ACT to amend the insurance law, the financial services  law  and  the
   banking  law,  in  relation to establishing the insure our communities
   act
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
   Section  1.  Short  title. This act shall be known and may be cited as
 the "insure our communities act".
   § 2. Legislative findings and intent. The legislature hereby finds and
 declares the following:
   1. The Department of Financial Services has identified that  New  York
 state  is "in the midst of an affordable housing crisis driven by numer-
 ous factors, including the availability of affordable insurance";
   2. The Office of Budget Policy and Analysis has identified that "rates
 of rental cost burden have increased  across  all  income  groups  since
 2012" and "significant racial disparities exist among households suffer-
 ing from housing insecurity. In New York, 55 percent of households head-
 ed by a Hispanic person (any race), 50 percent of households headed by a
 Black  or African American person and 48 percent of households headed by
 an Asian person had at least one housing  insecurity  problem,  compared
 with  31  percent of households headed by a white person. People experi-
 encing homelessness were also disproportionately Black and  Hispanic  or
 Latino";
   3.  A 2022 study conducted by the Department of Financial Services and
 New York State Homes and Community Renewal found that affordable housing
 developers "had seen premiums rise, even in instances  where  there  had
 been  no  previous claims made, to levels that they deemed prohibitively
 expensive";
   4. The availability of fair and affordable insurance has a significant
 impact on community credit needs as homeowners and business owners  need
 insurance  coverage  in order to secure residential or commercial loans,
 as well as to protect their homes and businesses when damages occur, and
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00753-05-6
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 housing developers need access to fair and affordable insurance coverage
 to secure financing for the development of affordable rental housing;
   5.  A  lack of fair and affordable insurance coverage can limit access
 to homeownership and business development,  reduce  the  development  of
 affordable  rental  housing,  and  can  also limit lending and community
 development financing  opportunities  of  institutions  covered  by  New
 York's Community Reinvestment Act that evaluates banking institutions on
 their ability to meet credit needs of the entire community;
   6.  Climate  change, resulting primarily from the combustion of fossil
 fuels, is an immediate, grave threat to the state's  communities,  envi-
 ronment,  and  economy. New York has experienced an increasing number of
 extreme and unusual weather events, including Hurricanes Irene  and  Lee
 and the unprecedented Superstorm Sandy in 2012, which caused at least 48
 deaths and $41.9 billion in damage in New York state;
   7. Preexisting social and economic challenges combined with the uneven
 distribution  of  climate  change impacts makes certain communities more
 vulnerable to climate change impacts  than  others,  such  as  low-  and
 moderate-income communities and communities of color;
   8.  Homeowners,  businesses, and affordable multifamily developers are
 increasingly facing obstacles in securing fair and affordable  insurance
 coverage  in  light  of climate change and its economic impacts, and the
 New York State Climate Impacts  Assessment  has  identified  that  "many
 regions  are already experiencing an increase in policy premiums derived
 from past extreme climate events";
   9. Scientific evidence shows that climate change impacts  will  become
 more  severe  over  time with the continuing rise of global warming from
 greenhouse gas emissions;
   10. The state of New York must raise additional resources in order  to
 mitigate  the  effects of climate change, as evident by a report commis-
 sioned by New York State Energy  Research  and  Development  Authority's
 (NYSERDA)  estimating  that  climate  change  costs  in  New York "could
 approach $10 billion annually by midcentury"; and
   11. Comprehensive data collection on insurance industry  practices  in
 New York state in the form of a statewide database is necessary in order
 to  facilitate  enforcement  of  the  law and to determine if additional
 steps need to be taken to increase the availability of affordable insur-
 ance in areas underserved by insurance companies. Such data includes but
 is not limited to:
   a. The availability and affordability of insurance  coverage  and  the
 quality  or  type  of insurance coverage, by the race, ethnicity, gender
 and income of the policyholder, as well as race, ethnicity,  and  income
 of the census tract the insured risk is located in;
   b.  The  location  of  the  principal  place  of business of insurance
 agents, by census tract, including in low-  and  moderate-income  census
 tracts and census tracts in disadvantaged communities;
   c.  The extent to which insurance companies are significant financiers
 of the fossil fuel industry and new fossil fuel projects; and
   d. Whether the extent and characteristics of  insurance  availability,
 affordability, and coverage require public officials to take any actions
 to remedy redlining or other illegally or unfairly discriminatory insur-
 ance  practices;  or to promote insurance availability and affordability
 in areas underserved by insurers.
   § 3. The insurance law is amended by adding a new article 92  to  read
 as follows:
                                 ARTICLE 92
                        INSURE OUR COMMUNITIES ACT
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 SECTION 9201. DEFINITIONS.
         9202. IMPLEMENTING  CLIMATE  LEADERSHIP AND COMMUNITY PROTECTION
                 ACT TARGETS FOR INSURERS.
         9203. REPORTING.
   § 9201.  DEFINITIONS. IN THIS ARTICLE, UNLESS THE CONTEXT  OR  SUBJECT
 MATTER OTHERWISE REQUIRES:
   (A)  "NEW  FOSSIL FUEL PROJECT" MEANS A PROJECT DESIGNED TO FACILITATE
 THE PRODUCTION OF FOSSIL FUELS IN EXCESS OF WHAT IS IN DEVELOPMENT AS OF
 THE EFFECTIVE DATE OF THIS ARTICLE, INCLUDING  PRODUCTION  OF  NEW  COAL
 INFRASTRUCTURE,  POWER  PLANTS, OR MINES. "NEW FOSSIL FUEL PROJECT" ALSO
 INCLUDES PROJECTS THAT WOULD SUPPORT EXPLORING NEW OIL AND GAS FIELDS OR
 OTHERWISE EXPANDING OIL AND GAS  RESERVES.  EXAMPLES  OF  SUCH  PROJECTS
 INCLUDE,  BUT ARE NOT LIMITED TO, NEW WELLS, PIPELINES, TERMINALS OR GAS
 POWER PLANTS.
   (B) "DEPARTMENT" MEANS THE DEPARTMENT OF FINANCIAL SERVICES.
   (C) "SUPERINTENDENT" MEANS THE SUPERINTENDENT  OF  THE  DEPARTMENT  OF
 FINANCIAL SERVICES.
   (D)  "PRECAUTIONARY  PRINCIPLE"  MEANS AN APPROACH TAKEN TO REGULATION
 WHICH MANDATES THAT WHEN ACTIVITIES  UNDER  CONSIDERATION  MAY  LEAD  TO
 UNACCEPTABLY SERIOUS OR IRREVERSIBLE HARM THAT IS SCIENTIFICALLY PLAUSI-
 BLE  BUT  UNCERTAIN,  ACTIONS  SHALL  BE TAKEN TO AVOID OR DIMINISH THAT
 HARM.
   (E) "GUIDANCE" MEANS THE DEPARTMENT GUIDANCE  FOR  NEW  YORK  DOMESTIC
 INSURERS  ON  MANAGING THE FINANCIAL RISKS FROM CLIMATE CHANGE ISSUED BY
 THE DEPARTMENT OF FINANCIAL SERVICES.
   (F) "DISADVANTAGED COMMUNITIES" MEANS COMMUNITIES IDENTIFIED AS DISAD-
 VANTAGED COMMUNITIES PURSUANT TO THE CRITERIA SET FORTH IN  PARAGRAPH  C
 OF  SUBDIVISION ONE OF SECTION 75-0111 OF THE ENVIRONMENTAL CONSERVATION
 LAW.
   § 9202. IMPLEMENTING CLIMATE LEADERSHIP AND COMMUNITY  PROTECTION  ACT
 TARGETS FOR INSURERS. (A) THE DEPARTMENT SHALL:
   (1)  INTEGRATE  THE  PRECAUTIONARY  PRINCIPLE  INTO ITS REGULATION AND
 SUPERVISION OF INSURERS BY:
   (A) INCORPORATING MEASURES TO ANTICIPATE,  PREVENT,  OR  MINIMIZE  THE
 EFFECTS OF CLIMATE RISK AND ITS ADVERSE EFFECTS; AND
   (B)  IMPLEMENTING  COST-EFFECTIVE MEASURES TO ADDRESS THE CLIMATE RISK
 EXPOSURE OF INSURERS, EVEN IN THE ABSENCE OF FULL ECONOMIC OR SCIENTIFIC
 CERTAINTY;
   (2) REQUIRE INSURERS TO ANNUALLY FILE AND REPORT PROGRESS ON PLANS  TO
 ALIGN  THEIR  INVESTMENT  AND UNDERWRITING ACTIVITIES WITH SCIENCE-BASED
 CLIMATE MITIGATION TARGETS CONSISTENT WITH THE EMISSIONS LIMITS  SET  IN
 SECTION  75-0107  OF  THE  ENVIRONMENTAL CONSERVATION LAW AND TO CERTIFY
 THAT THEY DO NOT INVEST OR UNDERWRITE NEW FOSSIL FUEL PROJECTS;
   (3)  ALIGN  INSURER  INVESTMENT  AND  UNDERWRITING   ACTIVITIES   WITH
 SCIENCE-BASED  CLIMATE  MITIGATION TARGETS CONSISTENT WITH THE EMISSIONS
 LIMITS SET IN SECTION 75-0107 OF THE ENVIRONMENTAL CONSERVATION  LAW  BY
 PROHIBITING  UNDERWRITING  FOR ANY NEW FOSSIL FUEL PROJECT AND DIRECTING
 INSURERS TO PHASE OUT EXISTING UNDERWRITING FOR EXPLORATION, EXTRACTION,
 PROCESSING, EXPORTING, TRANSPORTING, AND ANY  OTHER  SIGNIFICANT  ACTION
 WITH RESPECT TO OIL, NATURAL GAS, COAL, OR ANY BYPRODUCT THEREOF; AND
   (4)  DEVELOP  A PROCESS FOR INSURANCE COMPANIES TO CERTIFY AS A CONDI-
 TION OF LICENSURE THAT THEY FILE AND REPORT PROGRESS ON PLANS  TO  ALIGN
 THEIR  INVESTMENT AND UNDERWRITING ACTIVITIES WITH SCIENCE-BASED CLIMATE
 MITIGATION TARGETS CONSISTENT WITH THE EMISSIONS LIMITS SET  IN  SECTION
 75-0107  OF  THE ENVIRONMENTAL CONSERVATION LAW AND TO CERTIFY THAT THEY
 DO NOT INVEST OR UNDERWRITE NEW FOSSIL  FUEL  PROJECTS.  THE  DEPARTMENT
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 SHALL  REVIEW EACH INSURANCE COMPANY'S CERTIFICATION TO ENSURE THAT THEY
 FILE AND REPORT ON SUCH PLANS.
   (B)  WITHIN  TWELVE  MONTHS OF THE EFFECTIVE DATE OF THIS ARTICLE, THE
 SUPERINTENDENT SHALL DEVELOP AND IMPLEMENT CRITERIA FOR CERTAIN INSURERS
 DOING BUSINESS IN THIS STATE, AS DETERMINED BY THE SUPERINTENDENT PURSU-
 ANT TO SUBSECTION (F) OF THIS SECTION, TO SUBMIT ANNUALLY TO THE  SUPER-
 INTENDENT A REPORT DISCLOSING:
   (1) SUCH INSURER'S INVESTMENTS IN:
   (A)  ANY  COMPANY  THAT  DERIVES  TEN  PERCENT OR MORE OF REVENUE FROM
 EXPLORATION, EXTRACTION, PROCESSING, EXPORTING,  TRANSPORTING,  AND  ANY
 OTHER  SIGNIFICANT ACTION WITH RESPECT TO OIL, NATURAL GAS, COAL, OR ANY
 BYPRODUCT THEREOF;
   (B)  ANY  PROJECT  INTENDED  TO  FACILITATE  OR  EXPAND   EXPLORATION,
 EXTRACTION,  PROCESSING,  EXPORTING, TRANSPORTING, AND ANY OTHER SIGNIF-
 ICANT ACTION WITH RESPECT TO OIL, NATURAL GAS, COAL,  OR  ANY  BYPRODUCT
 THEREOF; AND
   (C)  ANY  PROJECT  INTENDED TO CONSTRUCT ANY INFRASTRUCTURE RELATED TO
 PROJECTS UNDER SUBPARAGRAPH (B) OF THIS PARAGRAPH, SUCH AS WELLS,  PIPE-
 LINES, TERMINALS OR REFINERIES;
   (2)  THE  FINANCED  EMISSIONS FROM ALL OF THE INSURER'S INVESTMENTS IN
 THE PREVIOUS REPORTING YEAR;
   (3) INFORMATION CONCERNING SUCH INSURER'S GROSS  PREMIUM  UNDERWRITING
 FOR:
   (A)  ANY  COMPANY  THAT  DERIVES  TEN  PERCENT OR MORE OF REVENUE FROM
 EXPLORATION, EXTRACTION, PROCESSING, EXPORTING,  TRANSPORTING,  AND  ANY
 OTHER  SIGNIFICANT ACTION WITH RESPECT TO OIL, NATURAL GAS, COAL, OR ANY
 BYPRODUCT THEREOF;
   (B)  ANY  PROJECT  INTENDED  TO  FACILITATE  OR  EXPAND   EXPLORATION,
 EXTRACTION,  PROCESSING,  EXPORTING, TRANSPORTING, AND ANY OTHER SIGNIF-
 ICANT ACTION WITH RESPECT TO OIL, NATURAL GAS, COAL,  OR  ANY  BYPRODUCT
 THEREOF; AND
   (C)  ANY  PROJECT  INTENDED  TO  CONSTRUCT  ANY INFRASTRUCTURE RELATED
 PROJECTS UNDER SUBPARAGRAPH (B) OF THIS PARAGRAPH, SUCH AS WELLS,  PIPE-
 LINES, TERMINALS OR REFINERIES;
   (4)  THE  INSURED  EMISSIONS FROM ALL OF THE INSURER'S UNDERWRITING IN
 THE PREVIOUS REPORTING YEAR;
   (5) ANY OTHER INFORMATION THE DEPARTMENT  DEEMS  NECESSARY  TO  EFFEC-
 TIVELY IMPLEMENT AND ENFORCE ANY RULE OR REGULATION PROMULGATED PURSUANT
 TO THIS ARTICLE.
   (C)   THE   CRITERIA  DEVELOPED  BY  THE  SUPERINTENDENT  PURSUANT  TO
 SUBSECTION (B) OF THIS SECTION SHALL ENABLE THE SUPERINTENDENT  TO  POST
 THE  INFORMATION  REPORTED  TO THE SUPERINTENDENT PURSUANT TO SUBSECTION
 (D) OF THIS SECTION ON THE DEPARTMENT'S WEBSITE.
   (D) WITHIN TWELVE MONTHS OF THE EFFECTIVE DATE OF  THIS  ARTICLE,  AND
 ANNUALLY  THEREAFTER,  SUCH  INSURERS  DOING  BUSINESS IN THIS STATE, AS
 DETERMINED BY THE SUPERINTENDENT  SUBJECT  TO  SUBSECTION  (F)  OF  THIS
 SECTION,  SHALL  SUBMIT  A  REPORT  TO THE SUPERINTENDENT DISCLOSING THE
 INFORMATION SET FORTH IN SUBSECTION (B) OF THIS SECTION FOR THE  PRECED-
 ING CALENDAR YEAR.
   (E)  WITHIN  THREE MONTHS OF RECEIVING THE REPORT REQUIRED PURSUANT TO
 SUBSECTION (B) OF THIS SECTION, AND ANNUALLY THEREAFTER, THE SUPERINTEN-
 DENT SHALL COMPILE AND POST  THE  INFORMATION  IN  SUCH  REPORT  ON  THE
 DEPARTMENT'S WEBSITE.
   (F)  THE  SUPERINTENDENT MAY ENGAGE THE SERVICES OF ATTORNEYS, ACTUAR-
 IES, ACCOUNTANTS AND OTHER EXPERTS NOT OTHERWISE A PART  OF  THE  SUPER-
 INTENDENT'S  STAFF,  AT  THE  REPORTING  INSURER'S  EXPENSE, AS SHALL BE
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 REASONABLY NECESSARY TO ASSIST IN THE REVIEW OF  SUCH  INSURER'S  FILING
 UNDER  SUBSECTION  (C)  OF THIS SECTION. ALL PERSONS SO ENGAGED SHALL BE
 UNDER THE DIRECTION AND CONTROL OF THE SUPERINTENDENT AND SHALL ACT IN A
 PURELY ADVISORY CAPACITY.
   (G) THE SUPERINTENDENT SHALL SUBJECT AN INSURER TO THE REQUIREMENTS OF
 THIS SECTION IF:
   (1) THE INSURER REPORTS OVER ONE HUNDRED MILLION DOLLARS ON ITS ANNUAL
 SCHEDULE T FILING WITH THE NATIONAL ASSOCIATION OF INSURANCE SUPERINTEN-
 DENTS; OR
   (2) THE INSURER'S ACTIVITIES OR INVESTMENTS MAY EXPOSE SUCH INSURER TO
 A  HEIGHTENED  LEVEL  OF RISK FROM THE PHYSICAL OR TRANSITION EFFECTS OF
 CLIMATE CHANGE; OR
   (3) THE SUPERINTENDENT OTHERWISE DETERMINES THAT DISCLOSURE  WOULD  BE
 IN THE PUBLIC INTEREST.
   (H)  THE  SUPERINTENDENT SHALL REVIEW AND UPDATE THE GUIDANCE AT LEAST
 ONCE EVERY TWO YEARS AND SHALL UPDATE THE GUIDANCE TO  REFLECT  DEVELOP-
 MENTS  ELSEWHERE IN THE WORLD, WITH THE INTENT OF INCORPORATING EMERGING
 BEST PRACTICES AND ENSURING THE SMOOTH FUNCTIONING OF NEW YORK INSURANCE
 MARKETS.
   (I) THE SUPERINTENDENT MAY ADOPT SUCH REGULATIONS AS  THE  SUPERINTEN-
 DENT DEEMS NECESSARY TO CARRY OUT THE PURPOSES OF THIS ARTICLE.
   (J)  WITHIN  FIVE  YEARS  OF  THE  EFFECTIVE DATE OF THIS ARTICLE, THE
 SUPERINTENDENT SHALL REQUIRE ANY INSURER DOING BUSINESS IN THE STATE  TO
 CERTIFY THAT THEY HAVE DIVESTED FROM:
   (1)  ANY  COMPANY  THAT  DERIVES  TEN  PERCENT OR MORE OF REVENUE FROM
 EXPLORATION, EXTRACTION, PROCESSING, EXPORTING,  TRANSPORTING,  AND  ANY
 OTHER  SIGNIFICANT ACTION WITH RESPECT TO OIL, NATURAL GAS, COAL, OR ANY
 BYPRODUCT THEREOF;
   (2)  ANY  PROJECT  INTENDED  TO  FACILITATE  OR  EXPAND   EXPLORATION,
 EXTRACTION,  PROCESSING,  EXPORTING, TRANSPORTING, AND ANY OTHER SIGNIF-
 ICANT ACTION WITH RESPECT TO OIL, NATURAL GAS, COAL,  OR  ANY  BYPRODUCT
 THEREOF; AND
   (3)  ANY  PROJECT  INTENDED TO CONSTRUCT ANY INFRASTRUCTURE RELATED TO
 PROJECTS UNDER PARAGRAPH TWO OF THIS SUBSECTION, SUCH  AS  WELLS,  PIPE-
 LINES, TERMINALS OR REFINERIES.
   §  9203.  REPORTING. (A) WITHIN TWELVE MONTHS OF THE EFFECTIVE DATE OF
 THIS ARTICLE, AND ONCE EVERY TWO YEARS  THEREAFTER,  THE  SUPERINTENDENT
 SHALL  SUBMIT  A  REPORT TO THE LEGISLATURE AND THE GOVERNOR. THE REPORT
 SHALL ALSO BE MADE AVAILABLE TO THE PUBLIC AND  POSTED  ON  THE  DEPART-
 MENT'S  WEBSITE. THE REPORT SHALL DISCLOSE, FOR THE PRECEDING TWO CALEN-
 DAR YEARS, THE DEPARTMENT'S:
   (1) EFFORTS TO IMPLEMENT THE PROVISIONS OF SECTION NINE  THOUSAND  TWO
 HUNDRED TWO OF THIS ARTICLE;
   (2)  REGULATORY  AND SUPERVISORY ACTIONS TAKEN, IF ANY, TO BOLSTER THE
 RESILIENCE OF INSURERS TO THE PHYSICAL IMPACTS OF CLIMATE CHANGE;
   (3) REGULATORY AND SUPERVISORY ACTIONS PLANNED, IF ANY, TO BOLSTER THE
 RESILIENCE OF INSURERS TO THE PHYSICAL IMPACTS OF CLIMATE CHANGE;
   (4) THE EFFECTS, IF ANY, THAT THE INSURERS' EFFORTS TO ADDRESS CLIMATE
 RISK HAVE HAD ON THE AFFORDABILITY AND  AVAILABILITY  OF  INSURANCE  FOR
 DISADVANTAGED COMMUNITIES.
   (B) SUCH REPORT SHALL ALSO SUMMARIZE AVAILABLE INFORMATION REGARDING:
   (1)  INSURER AND INSURANCE MARKET READINESS FOR CLIMATE CHANGE AND THE
 ENERGY TRANSITION;
   (2) MAJOR SOURCES OF CLIMATE RISK FACED BY NEW YORK INSURERS;
   (3) ANY GAPS RELATED TO CLIMATE RISK THAT THE  DEPARTMENT  INTENDS  TO
 ADDRESS; AND
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   (4)  ANY  LEGISLATIVE  ACTION THAT MUST BE TAKEN IN ORDER TO ALLOW THE
 DEPARTMENT TO ADDRESS CLIMATE RISK.
   §  4. Subsections (k) and (l) of section 102 of the financial services
 law are amended and a new subsection (m) is added to read as follows:
   (k) To promote the reduction and elimination of fraud, criminal  abuse
 and  unethical  conduct  by, and with respect to, banking, insurance and
 other financial services institutions and their customers; [and]
   (l) To educate and protect users of banking, insurance, and  financial
 services  products  and  services  through  the  provision of timely and
 understandable information[.]; AND
   (M) TO IDENTIFY, SUPERVISE, REGULATE AND MANAGE EXPOSURE  TO  RISK  IN
 NEW YORK'S BANKING, INSURANCE AND FINANCIAL SERVICES INDUSTRIES, INCLUD-
 ING RISKS RELATED TO CLIMATE CHANGE.
   § 5. The insurance law is amended by adding a new section 2354 to read
 as follows:
   § 2354. PROTECTING COMMUNITIES FROM BLUELINING. (A) THE SUPERINTENDENT
 SHALL HAVE THE AUTHORITY TO PLACE A MORATORIUM ON NON-RENEWALS IN UNDER-
 SERVED  COMMUNITIES THAT HAVE BEEN AFFECTED BY A CLIMATE DISASTER IN THE
 LAST YEAR.
   (B) NO INSURER SHALL REFUSE TO ISSUE OR RENEW OR SHALL CANCEL A POLICY
 OF PROPERTY AND CASUALTY INSURANCE BASED SOLELY ON THE INSURED  RESIDING
 IN AN AREA THAT IS DESIGNATED AS A DISADVANTAGED COMMUNITY.  SUCH PROHI-
 BITION  SHALL NOT PRECLUDE AN INSURER FROM REFUSING TO ISSUE OR RENEW OR
 FROM CANCELING SUCH POLICIES BASED ON SOUND UNDERWRITING  AND  ACTUARIAL
 PRINCIPLES  REASONABLY  RELATED TO ACTUAL OR ANTICIPATED LOSS EXPERIENCE
 SUBJECT TO THE APPLICABLE PROVISIONS OF  THIS  SECTION  AND  OF  SECTION
 THREE THOUSAND FOUR HUNDRED TWENTY-FIVE OF THIS CHAPTER.
   § 6. Subsection (d) of section 3425 of the insurance law is amended by
 adding a new paragraph 4 to read as follows:
   (4) WITH RESPECT TO CANCELLATION OF POLICIES IN DISADVANTAGED COMMUNI-
 TIES, IN ADDITION TO THE REQUIREMENTS CONTAINED IN PARAGRAPH ONE OF THIS
 SUBSECTION,  UNLESS THE INSURER, AT LEAST ONE YEAR IN ADVANCE OF THE END
 OF THE POLICY PERIOD, 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, THE NAMED INSURED SHALL BE ENTI-
 TLED  TO  RENEW  THE POLICY UPON TIMELY PAYMENT OF THE PREMIUM BILLED TO
 THE INSURED FOR THE RENEWAL.
   § 7. The insurance law is amended by adding a new section 215 to  read
 as follows:
   §  215. RATING AND AFFORDABILITY IMPROVEMENT STUDY. (A) THE DEPARTMENT
 SHALL CONDUCT A STUDY ON  METHODS  FOR  KEEPING  PROPERTY  AND  CASUALTY
 INSURANCE  LINES AFFORDABLE FOR DISADVANTAGED COMMUNITIES, INCLUDING THE
 DEVELOPMENT OF A PUBLIC OPTION FOR RESIDENTIAL INSURANCE,  CONSIDERATION
 OF HOMEOWNER MITIGATION IN PREMIUM DISCOUNTS AND NON-RENEWAL AND CANCEL-
 LATIONS  DECISIONS,  ASSISTANCE  PROGRAMS  FOR  LOW-INCOME POLICYHOLDERS
 SIMILAR TO THOSE PROPOSED FOR THE NATIONAL FLOOD INSURANCE PROGRAM,  AND
 A TAX ON HOMEOWNERS INSURANCE LINES THAT DECLINES INTO A REBATE BASED ON
 INCOME.
   (B)  WITHIN  TWELVE  MONTHS OF THE EFFECTIVE DATE OF THIS SECTION, THE
 DEPARTMENT SHALL ISSUE A REPORT ON THEIR FINDINGS  WHICH  SHALL  PROVIDE
 RECOMMENDATIONS  FOR  REGULATORY  AND  LEGISLATIVE  ACTIONS  RELATING TO
 AFFORDABLE INSURANCE LINES IN DISADVANTAGED COMMUNITIES.
   (C) FOR THE PURPOSES OF THIS SECTION, AFFORDABILITY SHALL BE  MEASURED
 BY COMPARING AVERAGE WRITTEN PREMIUMS IN CENSUS TRACTS WHERE THE INSURED
 RISK  IS  LOCATED  TO THE MEDIAN HOUSEHOLD INCOME OF CENSUS TRACTS WHERE
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 THE INSURED RISK IS LOCATED, DIFFERENTIATING AMONG POLICIES  ISSUED  FOR
 SINGLE-FAMILY  HOMES, MULTI-FAMILY HOMES, AND CONDOMINIUM OR COOPERATIVE
 UNITS AND BETWEEN POLICIES WITH VARYING TYPES OF BENEFITS, INCLUDING BUT
 NOT LIMITED TO GUARANTEED REPLACEMENT COST, STANDARD OR LIMITED REPLACE-
 MENT COST, MARKET VALUE OR ACTUAL CASH VALUE.
   §  8.  Subdivision 4 of section 28-b of the banking law, as amended by
 chapter 180 of the laws of 2012, is amended to read as follows:
   4. Notwithstanding any other provision of this chapter or other law to
 the contrary, the term banking institution when  used  in  this  section
 shall  mean  and  include  all  banks,  trust  companies, savings banks,
 savings and loan associations, credit unions, COVERED  INSURANCE  COMPA-
 NIES and foreign banking corporations incorporated, chartered, organized
 or licensed under the laws of this state. In the case of a foreign bank-
 ing  corporation  licensed  pursuant  to  this article and maintaining a
 branch in this state, the management of the  branch  shall  establish  a
 committee  of not fewer than three officers to function in the role of a
 board of directors for purposes of this section.
   § 9. Section 28-b of the banking law is amended by  adding  eight  new
 subdivisions 7, 8, 9, 10, 11, 12, 13, and 14 to read as follows:
   7.  THE SUPERINTENDENT SHALL CONSIDER THE FOLLOWING FACTORS IN ASSESS-
 ING A COVERED INSURANCE COMPANY'S RECORD OF PERFORMANCE AT  MEETING  THE
 INSURANCE  NEEDS  OF  THEIR ASSESSMENT AREAS, AND INCLUDE IN ITS WRITTEN
 ASSESSMENT REQUIRED BY THIS SECTION THE RECORD OF  PERFORMANCE  OF  SUCH
 COVERED INSURANCE COMPANY AS TO EACH OF THE FOLLOWING FACTORS:
   (A) THE NUMBER AND DISTRIBUTION OF POLICYHOLDERS THROUGHOUT THE COMMU-
 NITY,  INCLUDING THE NUMBER AND DISTRIBUTION OF LOW- AND MODERATE-INCOME
 POLICYHOLDERS, AND THE NUMBER AND DISTRIBUTION OF POLICYHOLDERS BASED ON
 THE RACE OR ETHNICITY OF POLICYHOLDERS, AS IDENTIFIED IN DATA  COLLECTED
 PURSUANT TO SUBDIVISION THIRTEEN OF THIS SECTION;
   (B)  THE NUMBER AND DISTRIBUTION OF POLICYHOLDERS RESIDING IN LOW- AND
 MODERATE-INCOME CENSUS TRACTS, AS WELL AS THE NUMBER AND DISTRIBUTION OF
 POLICYHOLDERS RESIDING IN  CENSUS  TRACTS  IDENTIFIED  AS  DISADVANTAGED
 COMMUNITIES,  AS  IDENTIFIED  IN  DATA COLLECTED PURSUANT TO SUBDIVISION
 THIRTEEN OF THIS SECTION;
   (C) THE EXTENT TO WHICH THE COMPANY HAS ADOPTED INNOVATIVE AND  FLEXI-
 BLE MARKETING METHODS AND PRODUCTS THAT FACILITATE THE SALE OF INSURANCE
 ON  A  NONDISCRIMINATORY  BASIS  TO  LOW- AND MODERATE-INCOME CONSUMERS,
 CONSUMERS IN DISADVANTAGED COMMUNITIES,  AND  DEVELOPERS  OF  AFFORDABLE
 HOUSING FOR LOW- AND MODERATE-INCOME RENTERS;
   (D)  THE EXTENT TO WHICH THE COMPANY OFFERS AFFORDABLE INSURANCE.  FOR
 THE PURPOSES OF THIS  PARAGRAPH,  AFFORDABILITY  SHALL  BE  MEASURED  BY
 COMPARING  AVERAGE  WRITTEN PREMIUMS OF THE COVERED INSURANCE COMPANY IN
 CENSUS TRACTS WHERE THE INSURED RISK IS LOCATED TO THE MEDIAN  HOUSEHOLD
 INCOME OF CENSUS TRACTS WHERE THE INSURED RISK IS LOCATED, DIFFERENTIAT-
 ING  AMONG  POLICIES ISSUED FOR SINGLE-FAMILY HOMES, MULTI-FAMILY HOMES,
 AND CONDOMINIUM OR COOPERATIVE UNITS AND BETWEEN POLICIES  WITH  VARYING
 TYPES  OF  BENEFITS, INCLUDING BUT NOT LIMITED TO GUARANTEED REPLACEMENT
 COST, STANDARD OR LIMITED REPLACEMENT COST, MARKET VALUE OR ACTUAL  CASH
 VALUE;
   (E)  THE  DISTRIBUTION  OF  THE  INSURANCE COMPANY'S RETAIL OFFICES BY
 INCOME LEVEL OF CENSUS TRACTS AND RETAIL OFFICES  LOCATED  IN  DISADVAN-
 TAGED  COMMUNITIES  AND  THE RANGE OF SERVICES OFFERED BY RETAIL OFFICES
 ACROSS CENSUS TRACTS  BY  INCOME  LEVEL  AND  DISADVANTAGED  COMMUNITIES
 STATUS;
   (F)  THE EXTENT TO WHICH THE COMPANY FINANCIALLY SUPPORTS, IN THE FORM
 OF LOANS, INVESTMENTS, OR GRANTS, PROJECTS DESIGNED TO AVOID,  MODERATE,
 S. 9942                             8
 REPAIR,  OR  ADAPT TO NEGATIVE IMPACTS CAUSED BY CLIMATE CHANGE, FOR THE
 BENEFIT OF HOUSEHOLDS RESIDING IN, AND BUSINESSES LOCATED IN,  LOW-  AND
 MODERATE-INCOME  COMMUNITIES  OR  DISADVANTAGED  COMMUNITIES IN ORDER TO
 HELP   SUCH   COMMUNITIES   PREPARE  FOR  FUTURE  CLIMATE  CHANGE-DRIVEN
 DISRUPTIONS. SUCH PROJECTS SHALL INCLUDE, BUT ARE NOT LIMITED TO:
   (I) HARDENING HOMES AND BUSINESSES IN ORDER  TO  BETTER  PROTECT  THEM
 FROM EXTREME WEATHER EVENTS;
   (II)  RESTORING  COASTAL  WETLANDS  AND  DEVELOPING OTHER NATURE-BASED
 SOLUTIONS AND COASTAL PROTECTIONS;
   (III) UPGRADING STORM WATER DRAINAGE SYSTEMS;
   (IV) MAKING DEFENSIVE UPGRADES TO ROADS, BRIDGES, SUBWAYS, AND TRANSIT
 SYSTEMS;
   (V) PREPARING FOR AND RECOVERING FROM  HURRICANES  AND  OTHER  EXTREME
 WEATHER EVENTS;
   (VI) UNDERTAKING PREVENTIVE HEALTH CARE PROGRAMS AND PROVIDING MEDICAL
 CARE TO TREAT ILLNESS OR INJURY CAUSED BY THE EFFECTS OF CLIMATE CHANGE,
 INCLUDING  BUT  NOT LIMITED TO PROGRAMS TO MINIMIZE HEALTH ISSUES CAUSED
 BY AIR POLLUTION, WATER POLLUTION, OR RISING TEMPERATURES, SUCH AS  LYME
 DISEASE AND WEST NILE VIRUS;
   (VII)  RELOCATING,  ELEVATING, OR RETROFITTING SEWAGE TREATMENT PLANTS
 VULNERABLE TO FLOODING;
   (VIII) INSTALLING ENERGY EFFICIENT COOLING SYSTEMS AND OTHER WEATHERI-
 ZATION AND ENERGY  EFFICIENCY  UPGRADES  AND  RETROFITS  IN  PUBLIC  AND
 PRIVATE BUILDINGS INCLUDING SCHOOLS AND PUBLIC HOUSING;
   (IX)  UPGRADING PARTS OF THE ELECTRICAL GRID TO INCREASE STABILITY AND
 RESILIENCE, INCLUDING SUPPORTING THE CREATION OF  SELF-SUFFICIENT  CLEAN
 ENERGY MICROGRIDS;
   (X)  ADDRESSING  URBAN HEAT ISLAND EFFECTS THROUGH GREEN SPACES, URBAN
 FORESTRY, AND OTHER INTERVENTIONS; AND
   (XI) RESPONDING TO TOXIC ALGAE BLOOMS, LOSS OF  AGRICULTURAL  TOPSOIL,
 AND OTHER CLIMATE-DRIVEN ECOSYSTEM THREATS TO FORESTS, FARMS, FISHERIES,
 AND FOOD SYSTEMS;
   (G)  EVIDENCE OF PROHIBITED DISCRIMINATORY, UNFAIR, DECEPTIVE, ABUSIVE
 OR OTHER ILLEGAL INSURANCE PRACTICES, INCLUDING PRACTICES  THAT  DISPRO-
 PORTIONATELY  DISADVANTAGE  LOW-INCOME  CONSUMERS  OR CONSUMERS OF COLOR
 IRRESPECTIVE OF WHETHER SUCH PRACTICES MAY BE GROUNDED IN TRADITIONAL OR
 ACTUARIAL PRINCIPLES; AND
   (H) OTHER FACTORS THAT, IN THE JUDGMENT OF THE SUPERINTENDENT, REASON-
 ABLY BEAR UPON THE EXTENT TO WHICH A COVERED INSURANCE COMPANY IS  HELP-
 ING TO MEET THE INSURANCE NEEDS OF ITS ASSESSMENT AREA.
   8. FOR THE PURPOSES OF THIS SECTION:
   (A) THE TERM "ASSESSMENT AREA" MEANS, WITH RESPECT TO A COVERED INSUR-
 ANCE  COMPANY,  EACH COMMUNITY, INCLUDING METROPOLITAN STATISTICAL AREAS
 AND RURAL COUNTIES, IN WHICH SUCH COMPANY: (I) MAINTAINS A RETAIL OFFICE
 OR IS REPRESENTED BY AN AGENT; AND (II) HAS NOT LESS THAN FIFTY  POLICY-
 HOLDERS  RESIDING  IN  EITHER THE METROPOLITAN STATISTICAL AREA OR RURAL
 COUNTY. THE COMMUNITIES CONSTITUTING ASSESSMENT AREAS SHALL INCLUDE  THE
 COMMUNITIES IN WHICH THE GREAT MAJORITY OF POLICIES HAVE BEEN ISSUED.
   (B)  THE TERM "DISADVANTAGED COMMUNITIES" MEANS COMMUNITIES IDENTIFIED
 AS DISADVANTAGED COMMUNITIES PURSUANT TO THE CRITERIA SET FORTH IN PARA-
 GRAPH C OF SUBDIVISION ONE  OF  SECTION  75-0111  OF  THE  ENVIRONMENTAL
 CONSERVATION LAW.
   9.  IN THE CASE OF ANY COVERED INSURANCE COMPANY WHICH THE SUPERINTEN-
 DENT DETERMINES HAS ENGAGED IN ANY PRACTICE OR PROVIDED ANY SERVICE IN A
 MANNER WHICH UNLAWFULLY DISCRIMINATES AGAINST, OR IS UNFAIR,  DECEPTIVE,
 S. 9942                             9
 OR  ABUSIVE  TOWARDS,  ANY PERSON OR DISADVANTAGED COMMUNITY, THE SUPER-
 INTENDENT:
   (A)  MAY  NOT  GIVE  POSITIVE  CONSIDERATION  TO  ANY SUCH PRACTICE IN
 ASSESSING THE EXTENT TO WHICH SUCH COVERED INSURANCE COMPANY HAS MET ITS
 OBLIGATIONS UNDER SUBDIVISION SEVEN OF THIS SECTION;
   (B) SHALL REDUCE THE RATING THAT THE COVERED INSURANCE  COMPANY  WOULD
 OTHERWISE OBTAIN WITH RESPECT TO SUCH COMPANY AFTER CONSIDERATION OF THE
 EXTENT OF SUCH DISCRIMINATORY PRACTICE OR SERVICE; AND
   (C)  SHALL,  IN  ADDITION  TO ANY OTHER PENALTY OR SANCTION IMPOSED BY
 LAW, ORDER THE COVERED INSURANCE COMPANY  TO  MAKE  RESTITUTION  TO  ALL
 CONSUMERS HARMED BY SUCH PRACTICE.
   10.  WHENEVER  A COVERED INSURANCE COMPANY RECEIVES A RATING OF "NEEDS
 TO IMPROVE" OR LOWER IN ANY  ASSESSMENT  AREA  OR  OVERALL  RATING,  THE
 COMPANY  SHALL  SUBMIT AN IMPROVEMENT PLAN, SUBJECT TO PUBLIC NOTICE AND
 COMMENT, TO THE SUPERINTENDENT.
   (A) ANY IMPROVEMENT PLAN SUBMITTED TO THE SUPERINTENDENT BY A  COVERED
 INSURANCE  COMPANY  PURSUANT  TO THIS SUBDIVISION SHALL DESCRIBE HOW THE
 INSTITUTION INTENDS TO  IMPROVE  ITS  PERFORMANCE  OVERALL  AND  IN  ANY
 ASSESSMENT  AREA  WHERE  THE  COMPANY  RECEIVED  A  RATING  OF "NEEDS TO
 IMPROVE" OR LOWER.
   (B) THE SUPERINTENDENT SHALL REVIEW ANY IMPROVEMENT PLAN SUBMITTED  BY
 A  COVERED INSURANCE COMPANY AND EITHER APPROVE THE PLAN OR SEND IT BACK
 TO THE COMPANY FOR REVISIONS.
   (C) AFTER THE SUPERINTENDENT APPROVES AN IMPROVEMENT PLAN SUBMITTED BY
 A COVERED INSURANCE COMPANY PURSUANT TO THIS  SUBDIVISION,  THE  COMPANY
 SHALL  SUBMIT  REPORTS  AND DATA ON A QUARTERLY BASIS SO THAT THE SUPER-
 INTENDENT AND THE GENERAL PUBLIC CAN MONITOR PERFORMANCE.
   (D) IF ANY COVERED INSURANCE COMPANY RECEIVES A RATING  OF  "NEEDS  TO
 IMPROVE"  OR "SUBSTANTIAL NONCOMPLIANCE" IN ANY ASSESSMENT AREA OR OVER-
 ALL RATING, THE SUPERINTENDENT MAY NOT ACCEPT OR APPROVE ANY APPLICATION
 BY SUCH COVERED INSURANCE COMPANY OR ANY MERGER  APPLICATIONS  INVOLVING
 SUCH  COMPANY  UNTIL  THE COMPANY'S PERFORMANCE IMPROVES ON A SUBSEQUENT
 EVALUATION AND MAY INCREASE EXAMINATION  FEES  PURSUANT  TO  SUBDIVISION
 ELEVEN OF THIS SECTION.
   (E)  THE  SUPERINTENDENT  SHALL  CONSIDER  THE PROGRESS IN MEETING THE
 GOALS DESCRIBED IN ANY IMPROVEMENT PLAN AS AN INTEGRAL FACTOR IN REVIEWS
 OF ANY APPLICATION BY SUCH  COVERED  INSURANCE  COMPANY  OR  ANY  MERGER
 APPLICATIONS INVOLVING SUCH COMPANY.
   11.  THE  SUPERINTENDENT  SHALL  HAVE  THE  AUTHORITY  TO EXAMINE EACH
 COVERED INSURANCE COMPANY FOR COMPLIANCE WITH THIS SECTION, IN CONSULTA-
 TION WITH STATE AND FEDERAL REGULATORS WITH  AN  APPROPRIATE  REGULATORY
 INTEREST,  FOR  AND  IN  COMPLIANCE WITH APPLICABLE NEW YORK AND FEDERAL
 CONSUMER PROTECTION AND ANTI-DISCRIMINATION LAWS, AS OFTEN AS THE SUPER-
 INTENDENT DEEMS NECESSARY AND PROPER. THE SUPERINTENDENT MAY ADOPT RULES
 AND REGULATIONS WITH RESPECT TO THE FREQUENCY AND MANNER OF  EXAMINATION
 INCLUDING  THE  IMPOSITION  OF  EXAMINATION FEES. THE SUPERINTENDENT MAY
 ALSO INCREASE FEES FOR COVERED INSURANCE COMPANIES WITH LESS THAN SATIS-
 FACTORY COMMUNITY REINVESTMENT PERFORMANCE, AS WELL AS COVERED INSURANCE
 COMPANIES IDENTIFIED USING DATA COLLECTED PURSUANT TO ARTICLE NINETY-TWO
 OF THE INSURANCE LAW TO BE SIGNIFICANT FINANCIERS OF FOSSIL  FUEL  BUSI-
 NESSES  AND NEW FOSSIL FUEL PROJECTS AS DEFINED PURSUANT TO SECTION NINE
 THOUSAND TWO HUNDRED ONE OF THE INSURANCE LAW. FEES  COLLECTED  PURSUANT
 TO THIS SUBDIVISION MAY BE TRANSFERRED TO OTHER DEPARTMENTS OR STATE-AD-
 MINISTERED  FUNDS  FOR THE PURPOSE OF FINANCING PROJECTS AND INITIATIVES
 DESIGNED TO AVOID, MODERATE, REPAIR, OR ADAPT TO NEGATIVE IMPACTS CAUSED
 BY CLIMATE CHANGE, FOR THE BENEFIT OF HOUSEHOLDS RESIDING IN, AND  BUSI-
 S. 9942                            10
 NESSES LOCATED IN, LOW- AND MODERATE-INCOME COMMUNITIES OR DISADVANTAGED
 COMMUNITIES IN ORDER TO HELP SUCH COMMUNITIES PREPARE FOR FUTURE CLIMATE
 CHANGE-DRIVEN  DISRUPTIONS.  THE SUPERINTENDENT AND THE SUPERINTENDENT'S
 APPOINTEES  MAY  EXAMINE THE ENTIRE BOOKS, RECORDS, DOCUMENTS, AND OPER-
 ATIONS OF COVERED INSURANCE COMPANIES, THEIR PARENT COMPANY,  AND  THEIR
 SUBSIDIARIES,  AFFILIATES, OR AGENTS, AND MAY EXAMINE ANY OF THE COVERED
 INSURANCE COMPANIES, THEIR  PARENT  COMPANY'S  OR  THEIR  SUBSIDIARIES',
 AFFILIATES', OR AGENTS' OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS UNDER
 OATH.  ANY DOCUMENT OR RECORD PREPARED OR OBTAINED IN CONNECTION WITH OR
 RELATING TO ANY SUCH EXAMINATION, AND ANY RECORD PREPARED OR OBTAINED BY
 THE SUPERINTENDENT TO THE EXTENT THAT THE RECORD SUMMARIZES OR  CONTAINS
 INFORMATION DERIVED FROM ANY DOCUMENT OR RECORD DESCRIBED IN THIS SUBDI-
 VISION, SHALL NOT BE DISCLOSED TO THE PUBLIC UNLESS OTHERWISE AUTHORIZED
 PURSUANT TO ARTICLE NINETY-TWO OF THE INSURANCE LAW.
   12.  COVERED  INSURANCE  COMPANIES  WITH  LESS THAN "SATISFACTORY CRA"
 PERFORMANCE, AS IDENTIFIED BY THE SUPERINTENDENT, WILL BE INELIGIBLE FOR
 PRIOR APPROVAL OF RAISING PROPERTY INSURANCE RATES AS STIPULATED BY  THE
 FILING   REQUIREMENTS  ESTABLISHED  PURSUANT  TO  SECTIONS  TWENTY-THREE
 HUNDRED FIVE AND TWENTY-THREE HUNDRED EIGHT OF  THE  INSURANCE  LAW  AND
 WILL  BE  INELIGIBLE  FOR  PRIOR  APPROVAL OF RAISING PROPERTY INSURANCE
 RATES BEYOND LIMITATIONS SPECIFIED BY  REGULATION  PURSUANT  TO  SECTION
 TWENTY-THREE HUNDRED FORTY-FOUR OF THE INSURANCE LAW.
   13. BY MARCH THIRTY-FIRST OF EACH YEAR, EVERY COVERED INSURANCE COMPA-
 NY  SHALL  FILE  WITH  THE SUPERINTENDENT A "RESIDENTIAL INSURANCE RATE,
 EXPERIENCE AND STATISTICAL REPORT" AND SHALL MAKE AVAILABLE IN AN  ELEC-
 TRONIC  DATABASE  FORMAT  THE STATISTICAL INFORMATION ON ITS RESIDENTIAL
 AND COMMERCIAL ACTIVITIES BY CENSUS TRACT AND DEMOGRAPHICS OF THE  POLI-
 CYHOLDER  ACCORDING  TO THE PROVISIONS OF PARAGRAPHS (A) AND (B) OF THIS
 SUBDIVISION.
   (A) SUCH STATISTICAL REPORT SHALL BE  IN  A  FORM  PRESCRIBED  BY  THE
 SUPERINTENDENT  AS  IN  EFFECT  AT THE COMMENCEMENT OF THE CALENDAR YEAR
 REPORTED UPON AND SHALL INCLUDE, BUT NOT BE LIMITED  TO,  THE  FOLLOWING
 INFORMATION:
   (I) THE NUMBER OF POLICIES IN EFFECT, OR OTHER EXPOSURES INSURED.  FOR
 THE  PURPOSES  OF  THIS  PARAGRAPH:  "POLICIES IN EFFECT" SHALL MEAN THE
 NUMBER OF POLICIES WRITTEN IN THE REPORTING YEAR; AND "OTHER EXPOSURES",
 IF ANY, SHALL MEAN ANY COVERAGE EXTENDED OTHER  THAN  POLICIES  WRITTEN,
 AND  SHALL  BE  DESCRIBED IN THE REPORT IN SUFFICIENT DETAIL TO IDENTIFY
 THE COVERAGE PROVIDED;
   (II) THE NUMBER OF APPLICATIONS FOR COVERAGE;
   (III) THE NUMBER OF APPLICATIONS FOR WHICH COVERAGE WAS NOT  PROVIDED,
 CLASSIFIED ACCORDING TO APPLICATIONS WITHDRAWN, APPLICATIONS DENIED, AND
 APPLICATIONS STILL IN PROCESS;
   (IV) THE NUMBER OF POLICIES NOT RENEWED;
   (V) THE NUMBER OF POLICIES CANCELED OR TERMINATED;
   (VI) THE NUMBER OF CLAIMS FILED;
   (VII) THE NUMBER OF CLAIMS APPROVED, IN WHOLE OR IN PART;
   (VIII) THE NUMBER OF CLAIMS DENIED, IN WHOLE OR IN PART;
   (IX) THE AMOUNTS OF THE LOSSES INCURRED;
   (X) THE AMOUNTS OF THE LOSSES PAID;
   (XI)  APPLICABLE  RATES,  WITHIN  ASSESSMENT AREAS SERVED BY A COVERED
 INSURANCE COMPANY, FOR EACH FORM OF PROPERTY INSURANCE AND RATING  CLAS-
 SIFICATION,  INCLUDING RATES BY TIER IN MULTI-TIER PROGRAMS, AND DIFFER-
 ENTIATING BETWEEN POLICIES WITH VARYING TYPES OF BENEFITS, INCLUDING BUT
 NOT LIMITED TO GUARANTEED REPLACEMENT COST, STANDARD OR LIMITED REPLACE-
 MENT COST, MARKET VALUE OR ACTUAL CASH VALUE, AND DIFFERENTIATING  AMONG
 S. 9942                            11
 POLICIES ISSUED FOR SINGLE-FAMILY HOMES, MULTI-FAMILY HOMES, CONDOMINIUM
 OR COOPERATIVE UNITS, AND RENTERS;
   (XII)  FOR  COVERED  INSURANCE  COMPANIES  DISTRIBUTING THROUGH DIRECT
 SOLICITATION, THE NUMBER OF DIRECT MAIL OR TELEPHONE SOLICITATIONS;
   (XIII) THE NUMBER OF AGENTS APPOINTED BY THE COVERED INSURANCE  COMPA-
 NY;
   (XIV)  THE  STREET ADDRESSES OF ALL OFFICES ISSUING OR SERVICING POLI-
 CIES;
   (XV) LANGUAGES SPOKEN, OTHER THAN ENGLISH, WITH SUFFICIENT FLUENCY  TO
 CONDUCT BUSINESS IN THAT LANGUAGE BY PERSONNEL WITHIN EACH OFFICE;
   (XVI)  WHETHER  THE  COVERED  INSURANCE  COMPANY  ISSUES POLICIES IN A
 LANGUAGE OTHER THAN ENGLISH, AND, IF SO, IDENTIFYING  THE  LANGUAGES  IN
 WHICH  POLICIES  ARE  ISSUED  AND  THE NUMBER OF POLICIES ISSUED IN EACH
 LANGUAGE;
   (XVII) FOR EACH OF THE CATEGORIES OF INFORMATION DESCRIBED IN SUBPARA-
 GRAPHS (I) THROUGH (XI) OF THIS PARAGRAPH: FURTHER  CLASSIFICATIONS  AND
 AGGREGATED DATA ACCORDING TO RACE, NATIONAL ORIGIN, ETHNICITY, HOUSEHOLD
 INCOME,  AND  GENDER  OF THE INSUREDS OR APPLICANTS; CLASSIFICATIONS AND
 AGGREGATED DATA BY RACE, NATIONAL ORIGIN, ETHNICITY, AND INCOME  CHARAC-
 TERISTICS  OF  THE  CENSUS  TRACT  IN WHICH THE INSURED RISK IS LOCATED,
 INCLUDING WHETHER THE INSURED RISK IS LOCATED IN A DISADVANTAGED  COMMU-
 NITY,  PURSUANT  TO RULES AND REGULATIONS PROMULGATED BY THE SUPERINTEN-
 DENT; AND, WHERE AN  INSURER  APPLIES  ANY  OTHER  CLASSIFICATION  WHICH
 AFFECTS  THE PREMIUM RATE AT WHICH THE POLICY IS ISSUED, TOTALS BY RACE,
 NATIONAL ORIGIN, ETHNICITY, HOUSEHOLD INCOME AND GENDER  FOR  EACH  SUCH
 CLASSIFICATION;
   (XVIII)  ALL  OF  THE  INFORMATION UPON WHICH AN INSURER, RATE SERVICE
 ORGANIZATION, OR GROUP OF INSURERS  FILED  WITH  THE  SUPERINTENDENT  IN
 SUPPORT  OF THE RATES AS REQUIRED TO BE FILED WITH THE SUPERINTENDENT BY
 SUBSECTION (B) OF SECTION TWENTY-THREE HUNDRED FOUR AND  SUBSECTION  (C)
 OF SECTION TWENTY-THREE HUNDRED FIVE OF THE INSURANCE LAW. AN INSURER OR
 GROUP  OF  INSURERS  WHICH  ARE MEMBERS OR SUBSCRIBERS OF A RATE SERVICE
 ORGANIZATION WHICH MAKES OR FILES RATES ON BEHALF  OF  SUCH  INSURER  OR
 GROUP  OF  INSURERS  SHALL BE RESPONSIBLE FOR FILING SUCH INFORMATION AS
 PART OF THE REPORT REQUIRED BY THIS PARAGRAPH;
   (XIX) THE TOTAL DOLLAR AMOUNT OF FINANCING TO FOSSIL FUEL  BUSINESSES,
 INCLUDING  INVESTMENTS  AND  INSURANCE  POLICIES.  FOR  PURPOSES OF THIS
 SUBPARAGRAPH, "FOSSIL FUEL BUSINESSES" MEANS ANY  COMPANY  THAT  DERIVES
 TEN PERCENT OR MORE OF REVENUE FROM EXPLORATION, EXTRACTION, PROCESSING,
 EXPORTING,  TRANSPORTING,  AND ANY OTHER SIGNIFICANT ACTION WITH RESPECT
 TO OIL, NATURAL GAS, COAL, OR ANY BYPRODUCT THEREOF; AND
   (XX) THE  TOTAL  DOLLAR  AMOUNT  OF  FINANCING  FOR  NEW  FOSSIL  FUEL
 PROJECTS,  INCLUDING INVESTMENTS AND INSURANCE POLICIES. FOR PURPOSES OF
 THIS SUBPARAGRAPH, "NEW FOSSIL FUEL PROJECTS" MEANS PROJECTS DESIGNED TO
 FACILITATE THE PRODUCTION OF FOSSIL FUELS IN EXCESS OF WHAT IS IN DEVEL-
 OPMENT  AS  OF  THE  EFFECTIVE  DATE  OF  THIS  SUBDIVISION,   INCLUDING
 PRODUCTION  OF NEW COAL INFRASTRUCTURE, POWER PLANTS, OR MINES, AND ALSO
 INCLUDES PROJECTS THAT WOULD SUPPORT EXPLORING NEW OIL AND GAS FIELDS OR
 OTHERWISE EXPANDING OIL AND GAS RESERVES, INCLUDING, BUT NOT LIMITED TO,
 PROJECTS RELATING TO  NEW  WELLS,  PIPELINES,  TERMINALS  OR  GAS  POWER
 PLANTS.
   (B)  IN ADDITION TO AGGREGATE DATA REQUIRED TO BE REPORTED PURSUANT TO
 THIS SUBDIVISION, EACH INSURER SHALL FILE WITH THE  SUPERINTENDENT,  AND
 MAKE  AVAILABLE  TO  THE  PUBLIC,  THE  INDIVIDUAL RECORD DATA COLLECTED
 PURSUANT TO SUBPARAGRAPHS (I) THROUGH (XI)  OF  PARAGRAPH  (A)  OF  THIS
 SUBDIVISION  FROM  WHICH  THE REPORT SUMMARIES WERE TABULATED. SUCH DATA
 S. 9942                            12
 SHALL BE PROVIDED IN AN ONLINE, ELECTRONIC DATABASE FORMAT AS PRESCRIBED
 BY THE SUPERINTENDENT AND THE SUPERINTENDENT SHALL  MAKE  SUCH  DATABASE
 FILES AVAILABLE DIRECTLY TO THE PUBLIC IN ACCORDANCE WITH THE PROCEDURES
 AND  TIME REQUIREMENTS ESTABLISHED IN PARAGRAPH (C) OF THIS SUBDIVISION.
 THE SUPERINTENDENT  SHALL  REQUIRE  THAT  ALL  INFORMATION  WHICH  WOULD
 PERSONALLY  IDENTIFY  ANY  INDIVIDUAL APPLICANT OR POLICYHOLDER SHALL BE
 DELETED. THE CATEGORIES OF DATA TO BE MADE AVAILABLE FOR EACH INDIVIDUAL
 RECORD SHALL INCLUDE ALL OF THE SAME CATEGORIES OF INFORMATION COLLECTED
 PURSUANT TO SUBPARAGRAPHS (I) THROUGH (XI)  OF  PARAGRAPH  (A)  OF  THIS
 SUBDIVISION AND SHALL BE PRESENTED IN ACCORDANCE WITH STANDARDIZED CLAS-
 SIFICATION CODES TO BE ESTABLISHED BY THE SUPERINTENDENT.
   (C)  NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW, BY JULY FIRST OF
 EACH YEAR THE SUPERINTENDENT SHALL MAKE THE FULL  TEXT  OF  THE  REPORTS
 FILED  PURSUANT  TO  THIS SUBDIVISION AVAILABLE TO THE PUBLIC ON REQUEST
 AND SHALL MAKE SUCH REPORTS AVAILABLE FOR INSPECTION AT  THE  OFFICE  OF
 THE SUPERINTENDENT. SUCH REPORTS SHALL BE MADE AVAILABLE IN BOTH PRINTED
 AND   ELECTRONIC  FORMAT,  INCLUDING  ACCESS  THROUGH  THE  DEPARTMENT'S
 WEBSITE, AT NO CHARGE TO THE REQUESTING PARTY; PROVIDED,  HOWEVER,  THAT
 PRINTED  COPIES  OR PHOTOCOPIES SHALL BE AVAILABLE FOR A REASONABLE FEE,
 NOT TO EXCEED FIVE CENTS PER PAGE OR THE  ACTUAL  COST  OF  DUPLICATION,
 WHICHEVER  IS  LESS.   DATA PRESENTED IN ELECTRONIC FORMAT SHALL BE MADE
 AVAILABLE IN A DATABASE FILE FORMAT OF THE TYPE IN GENERAL USAGE BY  THE
 PUBLIC.
   14.  A  COVERED  INSURANCE  COMPANY  WHO DOES NOT FILE THE STATISTICAL
 REPORT OR OTHER INFORMATION REQUIRED BY THIS SECTION AS OF THE DATE SUCH
 REPORT IS REQUIRED TO BE FILED SHALL, UPON NOTICE AND OPPORTUNITY TO  BE
 HEARD,  BE  SUBJECT  TO A PENALTY NOT TO EXCEED ONE THOUSAND DOLLARS PER
 DAY FOR EACH DAY BEYOND THE DATE SUCH REPORT OR INFORMATION WAS REQUIRED
 TO BE FILED; PROVIDED, HOWEVER, THAT THE SUPERINTENDENT MAY  WAIVE  SUCH
 PENALTY  UPON A WRITTEN FINDING THAT THE REPORT OR OTHER INFORMATION WAS
 FILED BY SUCH INSURER BY THE REQUIRED DATE, WAS SUBSTANTIALLY  COMPLETE,
 AND  THE INSURER HAS CORRECTED ANY DEFICIENCIES WITHIN A DATE SET BY THE
 SUPERINTENDENT. A COVERED INSURANCE COMPANY REQUIRED BY THIS SECTION  TO
 SUBMIT  A STATISTICAL REPORT OR OTHER INFORMATION WHO WILLFULLY FAILS TO
 FILE SUCH STATISTICAL REPORT OR OTHER INFORMATION SHALL, IN ADDITION  TO
 ANY  OTHER PENALTIES PROVIDED FOR BY LAW, UPON NOTICE AND OPPORTUNITY TO
 BE HEARD, BE SUBJECT TO A PENALTY OF UP TO FIVE HUNDRED DOLLARS PER  DAY
 FOR  EACH DAY BEYOND THE DATE SUCH REPORT OR INFORMATION WAS REQUIRED TO
 BE FILED. FEES COLLECTED PURSUANT TO THIS SUBDIVISION MAY BE TRANSFERRED
 TO OTHER DEPARTMENTS OR STATE-ADMINISTERED  FUNDS  FOR  THE  PURPOSE  OF
 FINANCING  PROJECTS AND INITIATIVES DESIGNED TO AVOID, MODERATE, REPAIR,
 OR ADAPT TO NEGATIVE IMPACTS CAUSED BY CLIMATE  CHANGE,  AND  TO  ASSIST
 LOW- AND MODERATE-INCOME AND MINORITY COMMUNITIES, HOUSEHOLDS, AND BUSI-
 NESSES  IN PREPARING FOR FUTURE CLIMATE CHANGE-DRIVEN DISRUPTIONS. WHERE
 AN INSURER HAS FAILED TO COMPLY WITH THE REQUIREMENTS OF  THIS  SECTION,
 AN  AGGRIEVED  INDIVIDUAL,  INCLUDING ANY PERSON OR AGENCY ATTEMPTING TO
 ANALYZE THE PERFORMANCE OF ANY INSURER SUBJECT TO  THIS  SECTION,  SHALL
 HAVE  A  CAUSE  OF  ACTION  IN  ANY  COURT OF COMPETENT JURISDICTION FOR
 DECLARATORY AND INJUNCTIVE RELIEF. THE COURT  MAY,  IN  ITS  DISCRETION,
 AWARD  COSTS AND REASONABLE ATTORNEY FEES TO THE SUCCESSFUL PARTY IN ANY
 ACTION OR PROCEEDING BROUGHT PURSUANT TO THIS SECTION.
   § 10. This act shall take effect immediately.