Section 3425 Compliance Report (2% Report)
* IMPORTANT UPDATE FOR 2019 DATA REPORTING *
New York Insurance Law §3425(l)(2) includes a requirement to report the reasons for the non-renewal of policies; therefore the reporting format continues to include a specific tab requesting this relevant information.
In addition, the instructions have been revised to address situations where companies are required to make separate submissions for multiple programs approved under NYIL §2352 (see items 6 and 7).
PLEASE READ THE REVISED INSTRUCTIONS CAREFULLY.
Please note that for the 2020 data reporting year, the “Non-renewal reasons” tab of the reporting file has been revised to expand the descriptions of items 15 and 27.
General instructions for completing this data call
The main data file to be completed and returned to the Department; contains the Excel template for entering responses to the report.