Section 2305. Rates or rating plans; no prior approval; prior approval

* (a) Except as otherwise provided in subsection (b) hereof  or  section
  two  thousand  three  hundred  eight  of this article, prior approval of
  rates, rating plans, rating rules and rate manuals by the superintendent
  shall not be required.
    * NB Expires July 1, 2011
    (b) rate filings for:
    (1) workers' compensation insurance;
    (2) motor vehicle insurance, or  surety  bonds,  required  by  section
  three hundred seventy of the vehicle and traffic law;
    (3) joint underwriting;
    (4) motor vehicle assigned risk insurance;
    (5)  insurance  issued by the New York Property Insurance Underwriting
  Association;
    (6) risk sharing  plans  authorized  by  section  two  thousand  three
  hundred eighteen of this article;
    (7) title insurance;
    (8) medical malpractice liability insurance;
    (9) insurance issued by the Medical Malpractice Insurance Association;
    (10) mortgage guaranty insurance;
    (11)  credit  property  insurance,  as defined in section two thousand
  three hundred forty of this article; and
    (12) gap insurance
    (13) Private passenger automobile insurance,  except  as  provided  in
  section two thousand three hundred fifty of this article.
  shall  be  filed  with the superintendent and shall not become effective
  unless either the filing has been approved or  thirty  days,  which  the
  superintendent  may with cause extend an additional thirty days and with
  further cause extend an additional fifteen days, have  elapsed  and  the
  filing  has  not been disapproved as failing to meet the requirements of
  this article,  including  the  standard  that  rates  be  not  otherwise
  unreasonable.  After  a  rate  filing  becomes effective, the filing and
  supporting information shall be open to public inspection. If  a  filing
  is  disapproved,  notice  of  such  disapproval  order  shall  be given,
  specifying in what respects such filing fails to meet  the  requirements
  of  this  article.  Upon his or her request, the superintendent shall be
  provided with support and  assistance  from  the  workers'  compensation
  board   and  other  state  agencies  and  departments  with  appropriate
  jurisdiction. The  loss  cost  multiplier  for  each  insurer  providing
  coverage for workers' compensation, as defined by regulation promulgated
  by  the  superintendent, shall be promptly displayed on the department's
  website and updated in the event of any change.
    (c) Rates filed with the superintendent shall be  accompanied  by  the
  information  upon  which  the  insurer supports the rate as set forth in
  subsection (b) of section  two  thousand  three  hundred  four  of  this
  article.
    (d)  When  a filing subject to subsection (b) hereof or to section two
  thousand three hundred forty-four of this article is not accompanied  by
  the  information  upon  which  the  insurer  supports the filing and the
  superintendent does not have sufficient information to determine whether
  the filing meets the requirements of this article, the insurer shall  be
  required  to  furnish  such  information  and  in such event the thirty,
  thirty or fifteen day period of subsection (b) hereof or subsection  (d)
  of  section  two  thousand three hundred forty-four shall commence as of
  the date such information is furnished.
    (e) The superintendent: (1) by regulation may, in lieu of the  waiting
  period  set  forth  in  subsection (b) of this section, require workers'
  compensation insurance rate filings to be specifically  approved  before

  they  become  effective;  and  (2) shall hold a public hearing if a rate
  service organization makes a loss cost filing for workers'  compensation
  that  is  an  increase  of  seven percent or more over the approved loss
  costs  from  the prior year. Until June second, two thousand thirteen, a
  rate service organization for workers' compensation shall  make  a  loss
  cost  filing every year on or before June first, or such earlier date as
  is set by the superintendent.
    (f) Subsection (a) of this section shall be  of  no  force  or  effect
  during  the period August third, two thousand one through the day before
  the effective date of the property/casualty insurance availability  act,
  and  after June thirtieth, two thousand eleven. During the period August
  third, two thousand one through the day before the effective date of the
  property/casualty insurance availability act, and  again  commencing  on
  July  first,  two  thousand  eleven,  all  rates  previously  subject to
  subsection (a) of this section, other than rates which are not  required
  to  be  filed  pursuant  to subsection (b) of section two thousand three
  hundred ten of this article or which have been suspended from the filing
  requirement pursuant to section two thousand  three  hundred  eleven  of
  this  article,  shall  become subject to subsections (b), (c) and (d) of
  this section. All other provisions of this article applicable  to  kinds
  of  insurance or insurance activities the rates for which are subject to
  prior approval under subsection (b) of this section shall apply to kinds
  of insurance the rates for which were previously subject  to  subsection
  (a)  of this section or the rates for which are not required to be filed
  pursuant to subsection (b) of section two thousand three hundred ten  of
  this  article or the rates for which have been suspended from the filing
  requirement pursuant to section two thousand  three  hundred  eleven  of
  this article.
    (g)  (1)  If  all  rates  should  become subject to the prior approval
  provisions of subsections (b), (c)  and  (d)  hereof  as  set  forth  in
  subsection  (f)  hereof,  rates for inland marine risks which by general
  custom of the business are not written  according  to  manual  rates  or
  rating  plans  are  not  required  to be filed unless the superintendent
  directs they be filed.
    (2) Specific inland marine rates on risks specially rated  by  a  rate
  service  organization  shall  be  filed  and  such rates and any special
  filing with respect to a surety or guaranty bond required by law  or  by
  court  or  executive  order  or by order, rule or regulation of a public
  body, not covered by a previous  filing,  shall  become  effective  when
  filed and shall be deemed to meet the requirements of this article until
  such time as the superintendent reviews the filing and disapproves it.