Albany Update 04.20.2026
In this issue ...
- State Budget Developments
- Mamdani Announces Plan to Lower Insurance Costs for Landlords
- Updates on NAIC Data Calls
- Cybersecurity Compliance Notification Extended in Relation to DFS ID Issues
- DFS Proposes Regulation to Amend NF-10 Form
- WCB Adopts Regulation Allowing Residents to Treat Injured Workers
- WCB Sets New Maximum and Minimum Weekly Benefit Rates
- Industry Inquiry on Physical Damage Inspection Timeframe
- Bills on the Move
State Budget Developments
The Legislature was in Albany last week, despite a scheduled break. Both houses passed another extender bill on Monday and Thursday to keep last year’s budget in place until a new budget is enacted. It is NYIA’s understanding that the late budget is due to differences of opinion on policy provisions, including the auto insurance reforms. Deputy Majority Leader, Michael Gianaris, was interviewed on Capitol Pressroom last week, and among other things, referenced the Senate’s concern that carriers will not pass on savings to policyholders. NYIA is continuing to engage, including directly with public policymakers, to clearly relay the message that the reforms would be meaningful, but without taking away the ability of someone who is legitimately injured to recover, particularly in relation to receiving medical care or lost wages. NYIA is also continuing to weigh in on the wide range of proposals, including the homeowners loss ratio benchmark, which the association opposes. If you have any questions about the ongoing budget process, please contact Staci Steinfeld at ssteinfeld@nyia.org.
Mamdani Announces Plan to Lower Insurance Costs for Landlords
NYC Mayor Zohran Mamdani has announced a plan to provide subsidized property insurance to landlords in New York City. The mayor said that investments would be made to provide cheaper property and liability insurance for affordable housing and rent-stabilized buildings. The specifics have not yet been released, including who would be eligible and how it would be funded. NYIA understands that this action was not taken in consultation with the state. NYIA has been engaging with public policymakers to see what the program will provide and how it will be accomplished.
Updates on NAIC Data Calls
NYIA has received several member inquiries regarding the NAIC homeowners and Market Conduct Annual Statement (MCAS) data calls. NYIA has been in communication with DFS. The state regulator has indicated that in relation to the homeowners data call, no exemptions or extensions are being offered, meaning the June 15, 2026, deadline is final. An industry focused webinar will be held in late April to walk through data call elements, definitions, and validations and the drafting group will start meeting again after the NAIC Spring Meeting to update ThoughtSpot, and QA data. NYIA is continuing to monitor the situation, including in coordination with the national trades.
Furthermore, they shared that the DFS homeowners data call was unique and will not be an annual data request. However, if information is needed at a later date, another New York specific data call could be developed. NYIA has reached out to NAIC regarding the MCAS data call and will notify members if any additional information is procured.
Cybersecurity Compliance Notification Extended in Relation to DFS ID Issues
DFS notified NYIA indicating they are granting a 30-day courtesy extension to the cybersecurity compliance requirement to regulated entities and individual licensees that are working to resolve issues related to DFS ID access provided the entity has a DFS ID ticket via the DFS ID Help Form. Our understanding is if an entity submits a DFS ID ticket, the new deadline for submitting the Cybersecurity Annual Compliance Notification is May 15, 2026.
As a reminder, if you are responsible for submitting the annual compliance notification, your DFS ID Entity Administrator must add you to DFS ID for you to access the DFS Portal submission form. If you do not know who your entity administrator is, you can also request it when submitting the DFS ID Help Form. Once you have logged in via DFS ID, you will follow the same steps to submit your compliance notification as you did last year. The process has also been outlined in a video available here.
Additional cybersecurity resources, including written instructions on submitting an annual compliance notification, are available on the Cybersecurity Resource Center. Information regarding DFS ID is available at www.dfs.ny.gov/DFSID.
DFS Proposes Regulation to Amend NF-10 Form
DFS has put forward a draft regulation to amend the NF-10 form through a consensus proposal. The new form will add a link for filing a dispute with the American Arbitration Association (“AAA”) electronically through its Simple File portal; update AAA’s contact information; add spaces to insert the email addresses of an insurer’s representative and a third-party administrator’s representative; remove the signature and date fields from the “Arbitration Requested By” section; and add signature and date lines directly below the fraud warning statement. Comments can be submitted to hoda.nairooz@dfs.ny.gov until Sunday, June 7, 2026. If you would like NYIA to submit comments on your behalf, please contact Staci at ssteinfeld@nyia.org by Friday, May 29, 2026.
WCB Adopts Regulation Allowing Residents to Treat Injured Workers
As part of the fiscal year 2025–2026 budget, Governor Kathy Hochul signed an amendment into law allowing residents and fellows (under the supervision of a WCB-authorized physician) to treat injured workers in the New York State workers’ compensation system. This amendment to Section 13-b of the state’s workers’ compensation law took effect earlier this year. The WCB has adopted a regulation to help implement this law and provide billing guidance, which will take effect on April 22, 2026.
WCB Sets New Maximum and Minimum Weekly Benefit Rates
The Department of Labor reported that the New York State Average Weekly Wage (NYSAWW) for calendar year 2025 is $1,922.25. The maximum weekly benefit rate for workers' compensation claimants is two-thirds of NYSAWW for the previous calendar year, as determined by the New York State Department of Labor and the minimum weekly benefit rate is one-fifth of the NYSAWW or the employee's actual wages, whichever is less. Accordingly, the WCB has set a new maximum weekly benefit rate at $1,281.50 and a minimum weekly benefit rate at $384.45 for compensable lost time for workers' compensation claims with dates of injury during the period from July 1, 2026, through June 30, 2027. For more information, please see Subject Number 046-1805.
Industry Inquiry on Physical Damage Inspection Timeframe
NYIA has been contacted with an inquiry regarding 11 NYCRR 216.7 b(9). This regulation requires that if a second inspection of a vehicle is needed following a claim, the inspection must be conducted within two business days of the notice. NYIA understands that this is a very short and restrictive timeframe, which may prove challenging. If you have any feedback or specifics you can provide on whether your company has concerns about meeting this two-day deadline, please contact Staci at ssteinfeld@nyia.org by Friday, April 24, 2026. We are open to asking for the regulation to be amended to lengthen this timeframe if that would be of interest to members.
Bills on the Move
One bill progressed through the legislature this past week, relating to electronic delivery of auto insurance notices. If you have any questions on this bill, please contact Staci at ssteinfeld@nyia.org.
Passed Senate