New York Insurance Law Article 23 - PROPERTY/CASUALTY INSURANCE RATES

• 2301 - Purpose.
  The purpose of this article is to promote the public welfare by regulating insurance rates to the end that they not be excessive, inadequate or...
• 2302 - Applicability.
  (a) This article shall apply to all kinds of insurance written on risks or operations in this state by an insurer authorized to do business...
• 2303 - Standards for Rates.
  Rates shall not be excessive, inadequate, unfairly discriminatory, destructive of competition or detrimental to the solvency of insurers. In determining whether rates comply with the...
• 2304 - Rate Making and Supporting Information.
  (a) In the making of rates, consideration shall be given to past and prospective loss experience, including the conflagration and catastrophe hazards, if any, both...
• 2305 - Rates or Rating Plans; No Prior Approval; Prior Approval.
  * (a) Except as otherwise provided in subsection (b) hereof or section two thousand three hundred eight of this article, prior approval of rates, rating...
• 2306 - Delegation of Rate Filing Obligation.
  An insurer or group of insurers may discharge the rate filing obligation required by subsections (b) and (c) of section two thousand three hundred five...
• 2307 - Rating Classifications or Territories; Policy Forms.
  (a) No insurer or rate service organization shall use a rating classification or territory unless it has been filed with the superintendent and either he...
• 2308 - Imposition of Prior Approval.
  * (a) If the superintendent determines, after a hearing, at which representatives of consumers and other interested parties may participate, and on the basis of...
• 2309 - Excess Rate.
  Notwithstanding any other provisions of this article, upon the written application of the insured, stating the insured's reasons therefor, filed with and approved by the...
• 2310 - Informational Filings.
  * (a) Every insurer and rate service organization shall furnish to the superintendent, on or before the date of their use, all changes in the...
• 2311 - Suspension of Filing Requirement.
  (a) Under such rules and regulations as he shall adopt, the superintendent may, by order, suspend or modify the requirements of filing as to any...
• 2313 - Rate Service Organization; Defined.
  (a) In this article, "rate service organization" means a person or any other entity which makes or files rates as permitted by this article, or...
• 2314 - Charging of Rates.
  No authorized insurer shall, and no licensed insurance agent, no title insurance agent, no employee or other representative of an authorized insurer, and no licensed...
• 2315 - Recording and Reporting of Experience; Statistical Plans.
  (a) Every authorized insurer shall annually file with the rate service organization of which it is a member or subscriber, or with such other agency...
• 2316 - Prohibition of Anti-Competitive Behavior.
  * (a) (1) No insurer or rate service organization shall monopolize or attempt to monopolize, or combine or conspire with any other person or persons...
• 2317 - Joint Underwriting or Joint Reinsurance.
  (a) Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance shall be subject to regulation with respect thereto...
• 2318 - Risk Sharing Plans.
  Agreements may be made among insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good...
• 2319 - Information to Be Furnished Insureds; Aggrieved Person.
  (a) Every insurer and rate service organization shall within a reasonable time after receiving written request therefor, and upon payment of a reasonable charge, furnish...
• 2320 - Enforcement and Penalties; Where Prior Approval is Not Required.
  * (a) The superintendent may as often as he deems it expedient examine any insurer or rate service organization to ascertain whether its rating and...
• 2321 - Enforcement and Penalties; Where Prior Approval is Required.
  (a) Rate service organizations shall be subject to examination by the superintendent, as often as he may deem it expedient, pursuant to the provisions of...
• 2322 - Final Determination; Procedure on Orders Without Hearing.
  (a) After a final determination against an insurer, the amount of any overcharge received by such insurer during the pendency of the proceedings, with interest...
• 2323 - Profitability and Rates of Return; Where Prior Approval is Not Required.
  * (a) The superintendent shall by regulation establish a method for determining profitability, from whatever source profits are derived, and rates of return on net...
• 2324 - Rebating and Discrimination.
  (a) No authorized insurer, no licensed insurance agent, no licensed insurance broker, and no employee or other representative of any such insurer, agent or broker...
• 2325 - Accounts and Statistics.
  The superintendent shall have power, in his discretion, to prescribe by regulation, uniform classifications of accounts to be observed, and statistics to be reported by...
• 2326 - Evaluation of Competitive Rating Provisions.
  * The superintendent shall continuously monitor the operation of the provisions of this article which are applicable to the kinds of insurance or insurance activities...
• 2328 - Certain Motor Vehicle Insurance Rates; Prior Approval.
  For the periods February first, nineteen hundred seventy-four through August second, two thousand one, and the effective date of the property/casualty insurance availability act through...
• 2329 - Motor Vehicle Insurance Rates; Excess Profits.
  In accordance with regulations prescribed by the superintendent, each insurer issuing policies that are subject to article fifty-one of this chapter, including policies of motor...
• 2330 - No Fault Motor Vehicle Insurance Rates; Reflection of Reduced Exposure to Loss.
  Where the principal operator of a motor vehicle or such operator's spouse is eligible for medicare benefits for items of basic economic loss specified in...
• 2331 - Motor Vehicle Comprehensive Insurance Rates; Age, Sex or Marital Status.
  No filing of a rate, rating plan, rating rule or rate manual applicable to insurance for loss of or damage to a motor vehicle other...
• 2332 - Non-Commercial Private Passenger Automobile Insurance Rates; Experienced and Inexperienced Principal Operators.
  With respect to non-commercial private passenger automobiles, no filing of a rate, rating plan, rating rule or rate manual applicable to motor vehicle collision insurance,...
• 2333 - Non-Commercial Private Passenger Automobile Insurance Rates; Apportionment of Expenses.
  With respect to non-commercial private passenger automobiles, no filing of a rate, rating plan, rating rule or rate manual applicable to insurance for loss of...
• 2334 - Non-Commercial Private Passenger Automobile Insurance Rates; Merit Rating Plans.
  (a) The superintendent shall, after public hearing, promulgate a regulation, which may be amended from time to time, applicable to non-commercial private passenger automobile insurance...
• 2335 - Motor Vehicle Liability Insurance Rates; Prohibition of Surcharges for Certain Accidents and Traffic Infractions.
  * No insurer authorized to transact or transacting business in this state, or controlling or controlled by or under common control by or with an...
• 2335-a - Prohibition of Rate Increases for Persons Involved in Emergency Use of Vehicles.
  No insurer authorized to transact or transacting business in this state, or controlling or controlled by or under common control by or with an insurer...
• 2336 - Motor Vehicle Liability, Comprehensive and Collision Insurance Rates; Premium Reductions in Certain Cases.
  * (a) Any schedule of rates or rating plan for motor vehicle liability and collision insurance submitted to the superintendent shall provide for an appropriate...
• 2336-a - Snowmobile Liability Insurance Rates; Premium Reductions in Certain Cases.
  Any schedule of rates or rating plan for snowmobile liability insurance submitted to the superintendent may provide for an actuarially appropriate reduction in premium charges...
• 2337 - Private Passenger Automobile Physical Damage Insurance; Statistics on Use of Anti-Theft Devices and the Maximum Discount for All Anti-Theft Devices.
  (a) In accordance with procedures prescribed by the superintendent pursuant to the provisions of subsection (a) of section two thousand three hundred fifteen of this...
• 2338 - Appeal From Rate Service Organization Action.
  (a) This section shall apply only to kinds of insurance the rates for which are subject to prior approval pursuant to subsection (b) of section...
• 2339 - Charging or Receiving of Rates; Deviations.
  (a) This section shall apply only to kinds of insurance the rates for which are subject to prior approval pursuant to subsection (b) of section...
• 2340 - Credit Property Insurance.
  (a) The superintendent may promulgate regulations covering the business of credit property insurance. (b) "Credit property insurance" means insurance against loss of or damage to...
• 2342 - Expiration of Certain Provisions.
  The provisions of subsection (c) of section two thousand three hundred seven, section two thousand three hundred eight, subsection (a) of section two thousand three...
• 2343 - Medical Malpractice Insurance Rates; Special Additional Provisions Regarding Such Rates.
  (a) Whereas the provisions of a chapter of the laws of nineteen hundred eighty-five regarding medical and dental malpractice will have both a prospective and...
• 2344 - Flexible Rate Limitations in Problem Markets.
  * (a) As used in this section: (1) "Market" means a line, subline or classification (other than a classification delineated by geographic location) of property/casualty...
• 2345 - Disclosure of Premium Reductions and Surcharges.
  (a) Every authorized insurer shall specify the nature of each premium reduction or surcharge applied on a non-commercial motor vehicle insurance policy. (b) The insurer...
• 2346 - Reduction in Rates of Fire Insurance, Homeowners Insurance or Property/casualty Premiums for Residential Property.
  1. The superintendent may provide for a reduction in the rates of fire insurance premiums or the fire insurance component of homeowners insurance premiums applicable...
• 2346-a - Reduction in Rates of Certain Commercial Risk Insurance Premiums for Real Property.
  The superintendent shall provide for an actuarially appropriate reduction in the rates of premiums for certain commercial risk insurance, as defined in subparagraph (A) of...
• 2347 - Workers' Compensation Rate Changes.
  (a) Any rate change affecting the general rate level for the kind of insurance authorized by paragraph fifteen of subsection (a) of section one thousand...
• 2348 - Anti-Theft and Fraud Savings.
  In the review and approval of rate filings submitted pursuant to section two thousand three hundred twenty-eight or section two thousand three hundred fifty of...
• 2349 - Multi-Tier Program.
  (a) An insurer may make available a multi-tier program, with more than one rate level in the same company, for private passenger motor vehicle insurance...
• 2350 - Flexible Rating for Nonbusiness Automobile Insurance Policies.
  (a) Except as provided in subsection (b) of this section, overall average (for all coverages combined) rate level increases or decreases of five percent above...
• 2351 - Homeowners' Insurance Policies.
  (a) For the purposes of this section, "homeowners insurance" means a contract of insurance insuring against the contingencies described in subparagraphs (A), (B) and (C),...
• 2352 - Multiple Rating Programs.
  (a) Subject to the superintendent's prior approval, an insurer may establish more than one rating program within the same company for policies of insurance that...

Last modified: February 3, 2019