Sullivan & Cromwell LLP
03/14/2024 | Press release | Distributed by Public on 03/14/2024 15:45
NAIC Issues Homeowners’ Insurance Data Call
March 14, 2024
Comprehensive Data to Be Collected from U.S. P&C Insurers at ZIP Code Level to Aid in Assessment of Climate Risk; Separate FIO Data Call No Longer Being Pursued
On March 8, 2024, the NAIC announced that state insurance regulators intend to issue and coordinate a comprehensive, multi-state Property & Casualty Market Intelligence Data Call for homeowners' insurance data. The PCMI will cover more than 80% of the U.S. property insurance market by premium volume and will gather data from more than 400 property insurers. An anonymized subset of the collected data will be provided by the NAIC to FIO. As a result, FIO will no longer pursue its previously proposed collection of homeowners' insurance data.