New York Laws
Article 23 - Property/casualty Insurance Rates
2307 - Rating Classifications or Territories; Policy Forms.

(b) Except as otherwise provided herein, no policy form shall be
delivered or issued for delivery unless it has been filed with the
superintendent and either he has approved it, or thirty days have
elapsed and he has not disapproved it as misleading or violative of
public policy. After notice and hearing to the insurer or rate service
organization which submitted a policy form for approval, the
superintendent may withdraw approval of such form on finding that the
use of such form is contrary to the legal requirements applicable at the
time of withdrawal. The effective date of the withdrawal of approval
shall be prescribed by the superintendent but shall be not less than
ninety days after notice of withdrawal. With regard to residual value
insurance, policy forms and any amendments thereto shall be filed with
the superintendent within thirty days of their use by the insurer. For
purposes of this subsection, "residual value insurance" shall have the
same meaning as set forth in paragraph twenty-two of subsection (a) of
section one thousand one hundred thirteen of this chapter, provided
however, for the purposes of this subsection such insurance shall only
be utilized for commercial purposes, and shall not include personal
lines of insurance as defined in paragraph two of subsection (a) of
section three thousand four hundred twenty-five of this chapter or any
commercial auto insurance, and, provided further that applicants for
such insurance shall sign a statement that the applicant has an
appropriate level of knowledge and understanding of the use of residual
value insurance.
* (c) With respect 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,
any requirement in subsections (a) and (b) of this section of filing
with or prior approval by the superintendent may be waived by regulation
adopted by the superintendent after a public hearing.
* NB Expires July 1, 2026
(d) All policy forms and rating classifications and territories filed
with the superintendent shall be available for public inspection at the
department.
(e) Policy forms for inland marine risks where the rates for such
risks by general custom of the business are not written according to
manual rates or rating plans shall not be filed pursuant to subsection
(b) of this section, unless the superintendent directs that they be
filed.

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