2012 New York Consolidated Laws
ISC - Insurance
Article 54 - (5401 - 5414) NEW YORK PROPERTY INSURANCE UNDERWRITING ASSOCIATION
5404 - Rates, rating plans, rules and statistics.

 
    §  5404.  Rates,  rating  plans,  rules and statistics. (a) The rates,
  rating plans, rating rules and statistics applicable  to  the  insurance
  written  by  the association shall be subject to the relevant provisions
  of article twenty-three of this chapter except as otherwise provided  in
  this section.
    (b) Rates, rating plans and rating rules applicable to fire insurance,
  extended  coverage,  additional  perils, broad form coverage pursuant to
  subsection (g) of section five thousand four hundred two of this article
  and homeowners insurance upon a determination of necessity  having  been
  made  by  the  superintendent  pursuant  to  section  five thousand four
  hundred twelve of this article written by the association  shall  be  no
  greater  than  the  following  percentages  of those recommended for the
  voluntary market by the principal  rate  service  organization  in  this
  state:
    (1) one hundred twenty percent with respect to:
    (A)  owner-occupied  residential dwellings consisting of not more than
  four dwelling units;
    (B) household furnishings  and  personal  property  contained  in  any
  household unit;
    (C)  contents  of  any  retail-type  business  located  in  store-type
  premises and operating in a single location, provided such  business  is
  owned by its operators, who are all related by blood or affinity;
    (D)  real  property  of eleemosynary institutions used exclusively for
  such eleemosynary purposes including furnishings and  personal  property
  contained therein;
    (2) one hundred thirty percent with respect to:
    (A)  non-owner  occupied  residential dwellings consisting of not more
  than four dwelling units;
    (B) residential structures  consisting  of  more  than  four  but  not
  exceeding eight units with or without business occupancies;
    (C) homeowners insurance upon a determination of necessity having been
  made  by  the  superintendent  pursuant  to  section  five thousand four
  hundred twelve of this article;
    (3) one hundred forty percent with respect  to  residential  dwellings
  consisting  of  more than eight dwelling units, with or without business
  occupancies;
    (4) one hundred thirty percent with respect to any risks not otherwise
  provided for in paragraphs one, two and three of this subsection.
    (c) The rates, rating  plans  and  rating  rules  recommended  by  the
  principal   rate   service   organization,   together  with  such  other
  information the superintendent may require, shall be  submitted  by  the
  association  at  least sixty days prior to the date on which they are to
  become effective for risks written by it.
    (d) Filed  rating  rules  or  plans  may  provide  standards  for  the
  application  of  surcharges  for  risks  containing  unsafe or hazardous
  conditions, and shall provide for prompt removal of the surcharges  upon
  the elimination of those conditions.