New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter V - Rates And Rating Organizations
Subchapter B - Commercial And Industrial Risks
Part 151 - Workers' Compensation Insurance
Subpart 151-1 - Rate Filings Prior Approval
Section 151-1.0 - Preamble

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 151-1.0

Current through Register Vol. 46, No. 39, September 25, 2024

Prior to the September 1, 1984 recodification of the Insurance Law, section 184(7) provided that no workers' compensation rate could be made effective by any rating organization or insurer until such rate had been approved by the superintendent. Following recodification, however, section 2305(b) provides that workers' compensation rates cannot become effective unless either:

(a) the filing has been approved; or

(b) 15 days, which the superintendent may extend to 30 days, elapse without disapproval.

Section 2305(e), nonetheless, provides that the superintendent may, by regulation, require specific approval before workers' compensation rates can take effect.

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