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New York Consolidated Laws, Insurance Law - ISC § 2349. Multi-tier program

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) An insurer may make available a multi-tier program, with more than one rate level in the same company, for private passenger motor vehicle insurance in the voluntary market, provided that:

(1) the program and the insurer's business plan encourage depopulation of the assigned risk plan established by article fifty-three of this chapter;

(2) the program is based upon mutually exclusive underwriting rules per tier, to the extent feasible;

(3) credits and surcharges pursuant to an approved rating plan can be applied on a per tier basis;  and

(4) the program conforms to regulations promulgated by the superintendent.

(b) For an insurer with an approved multi-tiering program, the provisions of subsection (f) of section three thousand four hundred twenty-five of this chapter shall apply in all respects, except that the two percent limitation set forth therein shall:

(1) not apply to any risk moved from a tier to a lower-rated tier;  and

(2) be deemed to be three percent for risks moved from a tier to a higher-rated tier.

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Cite this article: FindLaw.com - New York Consolidated Laws, Insurance Law - ISC § 2349. Multi-tier program - last updated January 01, 2026 | https://codes.findlaw.com/ny/insurance-law/isc-sect-2349/

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