N.Y. Laws » CHAPTER Insurance / ARTICLE Property/casualty Insurance Rates
New York Consolidated Laws

N.Y. Insurance Law § 2301 (2026)

Purpose

✓ current as of May 2026
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§ 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 unfairly discriminatory, to promote price
competition and competitive behavior among insurers, to provide rates
that are responsive to competitive market conditions, to improve the
availability and reliability of insurance and to authorize and regulate
cooperative action among insurers within the scope of this article.
Notes of Decisions
Cited in 1 case, 1985–1985 · leading case: New York Pub. Interest Rsch. Grp., Inc. v. New York State Dep't of Ins., 488 N.E.2d 466 (N.Y. 1985).
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New York Pub. Interest Rsch. Grp., Inc. v. New York State Dep't of Ins., 488 N.E.2d 466 (N.Y. 1985). “Thus, the reason for assessing profitability as provided in section 2323 is to assure that insurance rates "not be excessive, inadequate or discriminatory, to promote price competition and competitive behavior among insurers, to provide rates that are responsive to competitive…”
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