2006 New York Code - Flexible Rating For Nonbusiness Automobile Insurance Policies.

 
    * §   2350.  Flexible  rating  for  nonbusiness  automobile  insurance
  policies.  (a) Except as provided in subsection  (b)  of  this  section,
  overall  average  (for  all  coverages combined) rate level increases or
  decreases of seven percent above or below the insurer's rates in  effect
  may  take  effect  without  prior  approval  with  respect  to rates for
  policies covering losses or liabilities arising out of the ownership  of
  a  motor  vehicle  predominantly  used  for nonbusiness purposes, when a
  natural person is  the  named  insured  under  a  policy  of  automobile
  insurance.
    (b)  Notwithstanding  any  other  provisions  of this article, for any
  policies governed by this  section,  filings  that  produce  rate  level
  changes  within  the  limitation  specified  in  subsection  (a) of this
  section shall  become  effective  without  prior  approval  pursuant  to
  subsection  (a)  of  section  two  thousand  three  hundred five of this
  article, provided however (1) that no more than one rate increase within
  the limitation specified in  subsection  (a)  of  this  section  may  be
  implemented  during  any  twelve  month period; and (2) no rate increase
  within the limitation specified in subsection (a) of this section may be
  implemented until the onset of the new  policy  period  and  unless  the
  insurer,  at least thirty but not more than sixty days in advance of the
  end of the policy period, mails or delivers to the named insured, at the
  address shown in the policy, a written notice of its intention to change
  the rate. The specific reason or reasons for the rate  change  shall  be
  stated in or shall accompany the notice.
    (c)   The   superintendent  shall  promulgate  rules  and  regulations
  implementing the provisions of this section.
    (d) On or before March thirty-first, nineteen hundred ninety-eight the
  superintendent shall report to the legislature on the  effectiveness  of
  flexible  rating  for  nonbusiness  automobile  insurance  policies. The
  report shall analyze the impact of flexible rating on:  the  extent  and
  nature  of  competition;  size  and  significance of coverage; level and
  range of rates and rate  changes  among  insurers;  extent  of  consumer
  complaints  to  the  insurance  department;  volume of cancellations and
  non-renewals; changes in the number of policies, by  territory,  and  by
  class (including age and sex) in each territory, written under a plan or
  plans  approved by the superintendent pursuant to article fifty-three of
  this chapter; and the number of new insureds, non-renewed  insureds  and
  business written by each insurer.
    (e)  This  section  shall  not  apply  to  a policy issued pursuant to
  section three thousand four hundred forty-six of this chapter.
    (f) This section shall cease to be of any force or effect after August
  second, two thousand one.
    * NB Expired August 2, 2001