Insurance Law 2333 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 2332 Non-commercial private passenger automobile insurance rates; experienced and inexperienced principal operators up ARTICLE 23 Property/casualty Insurance Rates next SECTION 2334 Non-commercial private passenger automobile insurance rates; merit rating plans Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 2333 Non-commercial private passenger automobile insurance rates; apportionment of expenses Insurance (ISC) CHAPTER 28, ARTICLE 23 § 2333. Non-commercial private passenger automobile insurance rates; apportionment of expenses. With respect to non-commercial private passenger automobiles, no filing of a rate, rating plan, rating rule or rate manual applicable to insurance for loss of or damage to a motor vehicle, the insurance provided for in section five thousand one hundred three of this chapter, bodily injury liability insurance or property damage liability insurance shall be approved by the superintendent, if the filing allocates all of an insurer's administrative expenses as a percentage of premium. Every insurer shall reasonably apportion such expenses among its policyholders. For the purpose of this section, administrative expenses includes general expenses and acquisition expenses other than commissions.