New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter V - Rates And Rating Organizations
Subchapter F - Treatment Of Excess Profits In Motor Vehicle Insurance
Part 166 - Treatment Of Excess Profits In Motor Vehicle Insurance
Subpart 166-1 - General Rules
Section 166-1.2 - Aggregate industry data used
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 166-1.2
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Aggregate industry data shall be used in testing profitability, rather than individual- insurer results.
(b) The aggregate industry data approach has been adopted to minimize random fluctuations, to avoid unfair treatment of insurers with differing financial makeup, and to permit the selection of one relatively low and logically defensible excess profit point.
(c) See section 166-2.2 of this Part for discussion of this section.
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