2006 New York Code - Profitability And Rates Of Return; Where Prior Approval Is Not Required.

 
    * §  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, 2006