N.Y.
Insurance Law Section 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 § 3425 (Certain property/casualty insurance policies)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
Source:
Section 2356 — Premium change explanations, https://www.nysenate.gov/legislation/laws/ISC/2356 (updated May 29, 2026; accessed Jun. 18, 2026).
