N.Y. Insurance Law § 2334: Non-commercial private passenger automobile insurance rates; merit rating plans

§ 2334. Non-commercial private passenger automobile insurance rates;

merit rating plans. (a) The superintendent shall, after public hearing,

promulgate a regulation, which may be amended from time to time,

applicable to non-commercial private passenger automobile insurance

merit rating plans which reflect an individual driver's experience with

respect to accidents, claims or traffic violations. The regulation shall

continue to encourage competition among insurers, but shall discourage

merit rating plan provisions which may tend to create confusion or

misunderstanding among insureds. The regulation shall establish

standards and limitations intended to insure that merit rating plans are

reasonable, understandable and objective and are not unfairly

discriminatory, inequitable, violative of public policy or otherwise

contrary to the best interests of the people of this state.

(b) Insurers shall review their merit rating plans which were approved

by the superintendent prior to the promulgation of the regulation

required by this section and shall, before November first, nineteen

hundred eighty-two, file with the superintendent statements that their

merit rating plans conform with the regulation, or file appropriate

amendments to their plans which will bring them into compliance with the

standards of the regulation. Such amendments shall become effective upon

approval by the superintendent.