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This entry was published on 2020-04-24
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SECTION 2328
Certain motor vehicle insurance rates; prior approval
Insurance (ISC) CHAPTER 28, ARTICLE 23
§ 2328. Certain motor vehicle insurance rates; prior approval. For the
periods February first, nineteen hundred seventy-four through August
second, two thousand one, and the effective date of the
property/casualty insurance availability act through June thirtieth, two
thousand twenty-three, no changes in rates, rating plans, rating rules
and rate manuals applicable to motor vehicle insurance, including
no-fault coverages under article fifty-one of this chapter, shall be
made effective until approved by the superintendent, notwithstanding any
inconsistent provisions of this article; provided, however, that changes
in such rates, rating plans, rating rules and rate manuals may be made
effective without such approval if the rates that result from such
changes are no higher than the insurer's rates last approved by the
superintendent. This section shall apply only to policies covering
losses or liabilities arising out of ownership of a motor vehicle used
principally for the transportation of persons for hire, including a bus
or a school bus as defined in sections one hundred four and one hundred
forty-two of the vehicle and traffic law.