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

N.Y. Insurance Law § 2323 (2026)

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

✓ current as of May 2026
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* § 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 worth, assets and earned premiums,
with respect to each kind of insurance subject to this article, based on
reasonable and uniform assumptions, including assumptions as to:
  (1) amounts of net worth attributable to such kinds of insurance;
  (2) assets available for investment generated by such kinds of
insurance;
  (3) federal income taxes; and
  (4) average earnings on insurers' investments.
  (b) The regulation shall require insurers annually to report to the
superintendent, who will make these reports available to the public,
concerning such profitability and rates of return.
  (c) This section shall be applicable to kinds of insurance or
insurance activities the rates for which, pursuant to subsection (a) of
section two thousand three hundred five of this article, are not subject
to prior approval.
  * NB Expires July 1, 2026
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). · cites it 2× “Their contention is that the regulations, which adopted an aggregate industry approach to determination of the point at which profit becomes excess, contravenes section 2329, because it requires the same company-by-company, line-by-line determination called for by regulations…”
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