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 166-1.4 - Measurement of profitability
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 166-1.4
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Profitability shall be measured by relating profits to net worth rather than to sales or total capital.
(b) Section 2323 of the Insurance Law states that rates of return on net worth, assets and premiums earned shall be calculated. Section 2329 requires that an excess profit be defined in terms of return on net worth.
(c) See section 166-2.4 of this Part for discussion of this section.
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