N.Y. Insurance Law Section 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 foregoing standards, the superintendent shall include all income earned by such insurer and any insurer controlling or controlled by such insurer or under common control by or with such insurer on all its investments of any kind and wherever located. The superintendent shall further determine whether any component of such rates represent an effort on the part of the insurer to recover losses incurred in another state due to any referendum, law or regulation which requires a general reduction in rates for the kinds of insurance described in § 2302 (Applicability)section two thousand three hundred two of this article. Such a finding shall be deemed unfairly discriminatory for the purposes of this article.

Source: Section 2303 — Standards for rates, https://www.­nysenate.­gov/legislation/laws/ISC/2303 (updated Sep. 22, 2014; accessed Jan. 31, 2026).

2301
Purpose 2302
Applicability 2303
Standards for rates 2304
Rate making and supporting information 2305
Rates or rating plans 2306
Delegation of rate filing obligation 2307
Rating classifications or territories 2308
Imposition of prior approval 2309
Excess rate 2310
Informational filings 2311
Suspension of filing requirement 2312
Immigration bond premium 2313
Rate service organization 2314
Charging of rates 2315
Recording and reporting of experience 2316
Prohibition of anti-competitive behavior 2317
Joint underwriting or joint reinsurance 2318
Risk sharing plans 2319
Information to be furnished insureds 2320
Enforcement and penalties 2321
Enforcement and penalties 2322
Final determination 2323
Profitability and rates of return 2324
Rebating and discrimination 2325
Accounts and statistics 2326
Evaluation of competitive rating provisions 2327
Verification of driving history 2328
For hire motor vehicle insurance rates 2329
Motor vehicle insurance rates 2330
No fault motor vehicle insurance rates 2331
Motor vehicle comprehensive insurance rates 2332
Non-commercial private passenger automobile insurance rates 2333
Non-commercial private passenger automobile insurance rates 2334
Non-commercial private passenger automobile insurance rates 2335
Motor vehicle liability insurance rates 2335–A
Prohibition of rate increases for persons involved in emergency use of vehicles 2336
Motor vehicle liability, comprehensive and collision insurance rates 2336–A
Snowmobile liability insurance rates 2336–B
Boat liability insurance rates 2337
Private passenger automobile physical damage insurance 2338
Appeal from rate service organization action 2339
Charging or receiving of rates 2340
Credit property insurance 2342
Expiration of certain provisions 2343
Medical malpractice insurance rates 2344
Flexible rate limitations in problem markets 2345
Disclosure of premium reductions and surcharges 2346
Reduction in rates of fire insurance, homeowners insurance or property/casualty premiums for residential property 2346–A
Reduction in rates of certain commercial risk insurance premiums for real property 2347
Workers’ compensation rate changes 2348
Anti-theft and fraud savings 2349
Multi-tier program 2350
Flexible rating for nonbusiness automobile insurance policies 2351
Homeowners’ insurance policies 2352
Multiple rating programs 2353
For-hire motor vehicle safety program
Green check means up to date. Up to date

Verified:
Jan. 31, 2026

Last modified:
Sep. 22, 2014

§ 2303. Standards for rates's source at nysenate​.gov

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