N.Y. Laws » CHAPTER Insurance / ARTICLE Administrative and Procedural Provisions
New York Consolidated Laws

N.Y. Insurance Law § 309 (2026)

Examinations of insurers; when authorized or required

✓ text as retrieved May 2026 (this copy records no edition or section history)
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§ 309. Examinations of insurers; when authorized or required. (a) The
superintendent may make an examination into the affairs of any insurance
corporation or other insurer doing or authorized to do any insurance
business in this state or, of any pension fund, retirement system or
other organization which is required by law to make reports to, or is
subject to examination by, the department as often as he deems it
expedient for the protection of the interests of the people of this
state, in addition to examinations authorized by other provisions of
this chapter.
  (b) The superintendent shall make an examination into the affairs:
  (1) of every authorized domestic fraternal benefit society and every
domestic property/casualty insurance company, at least once in every
three years; except that the superintendent may extend the three year
interval to not more than five years with respect to a property/casualty
insurance company, upon determining that the three year requirement is
not necessary to safeguard the interests of the public or policyholders;
  (2) of every domestic life insurance company, at least once in every
five years; and
  (3) of every other authorized domestic insurer and every rate service
organization which makes or files rates, whether or not advisory, at
least once in every five years.
  (c) As part of an examination, the superintendent shall review
determinations of coverage for substance use disorder treatment and
shall ensure that such determinations are issued in compliance with
sections three thousand two hundred sixteen, three thousand two hundred
twenty-one, four thousand three hundred three, and title one of article
forty-nine of this chapter.
Notes of Decisions
Cited in 3 cases, 1996–2013 · leading case: ABN Amro Bank, N.V. v. MBIA Inc., 81 A.D.3d 237 (N.Y. App. Div. 1st Dep't 2011).
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ABN Amro Bank, N.V. v. MBIA Inc., 81 A.D.3d 237 (N.Y. App. Div. 1st Dep't 2011). “The Superintendent periodically examines the affairs of every insurer doing business in New York (Insurance Law § 309), and upon determining that an insurer lacks sufficient assets to honor its commitments to policyholders, the Superintendent may initiate insolvency proceedings…”
Blue Cross v. McCall, 674 N.E.2d 1124 (N.Y. 1996). “The Legislature has also decreed that insurance businesses of a certain size must submit to the office of the Superintendent an annual financial statement audited by an independent certified public accountant (Insurance Law § 307).”
ABN AMRO Bank N.V. v. Dinallo, 40 Misc. 3d 180 (N.Y. Sup. Ct. 2013). “) Additionally, the state respondents point out that, pursuant to Insurance Law § 309 (b) (1), the NYID routinely conducts solvency examinations of “every domestic property/casualty insurance company,” every three to five years, which can take from 12 to 18 months to complete.”
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