Insurance Department

The Annual Commercial Property/Casualty Report (Follow-Up Review)

In 1986, in response to problems in the insurance industry, the State Legislature required that the Insurance Department prepare an annual report summarizing certain aspects of the operations of the commercial and casualty insurers operating in New York State. In our prior audit report 95-S-105, we found that Department officials had asked the State Legislature to repeal this requirement, because they believed the report was no longer useful. We agreed with Department officials, because the Department provides other information about commercial and property insurers that is more useful than the annual report. In our follow-up review, we found legislation has been proposed that would repeal the requirement that the annual report be prepared.

For a complete copy of Report 98-F-7 click here.
For a copy of the 90-day response click here.