New York § 2323 Profitability and rates of return; where prior approval is not required

New York Statutes

§ 2323 — Profitability and rates of return; where prior approval is not required

New York·Law ISC Insurance·Art. 23 Property/casualty Insurance Rates

* § 2323. Profitability and rates of return; where prior approval is\nnot required.

(a)The superintendent shall by regulation establish a\nmethod for determining profitability, from whatever source profits are\nderived, and rates of return on net worth, assets and earned premiums,\nwith respect to each kind of insurance subject to this article, based on\nreasonable and uniform assumptions, including assumptions as to:\n (1) amounts of net worth attributable to such kinds of insurance;\n (2) assets available for investment generated by such kinds of\ninsurance;\n (3) federal income taxes; and\n (4) average earnings on insurers' investments.\n (b) The regulation shall require insurers annually to report to the\nsuperintendent, who will make these reports available to the public,\ncon

Free access — add to your briefcase to read the full text and ask questions with AI

* § 2323. Profitability and rates of return; where prior approval is\nnot required. (a) The superintendent shall by regulation establish a\nmethod for determining profitability, from whatever source profits are\nderived, and rates of return on net worth, assets and earned premiums,\nwith respect to each kind of insurance subject to this article, based on\nreasonable and uniform assumptions, including assumptions as to:\n (1) amounts of net worth attributable to such kinds of insurance;\n (2) assets available for investment generated by such kinds of\ninsurance;\n (3) federal income taxes; and\n (4) average earnings on insurers' investments.\n (b) The regulation shall require insurers annually to report to the\nsuperintendent, who will make these reports available to the public,\nconcerning such profitability and rates of return.\n (c) This section shall be applicable to kinds of insurance or\ninsurance activities the rates for which, pursuant to subsection (a) of\nsection two thousand three hundred five of this article, are not subject\nto prior approval.\n * NB Expires July 1, 2026\n

New York § 2323 (Profitability and rates of return; where prior approval is not required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.