Statute · New York Insurance Law
N.Y. Ins. Law § 5301 — Participation in assigned risk plans
N.Y. Ins. Law § 5301
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 5301. Participation in assigned risk plans. (a) All insurers licensed to write motor vehicle insurance in this state shall subscribe to and participate in the reasonable plan or plans, approved, or which may be approved, by the superintendent after consultation with such insurers, for…
Citator
N.Y. Ins. Law § 5301 — Participation in assigned risk plans is in force in the current edition of the Code, and nothing recorded condemns it.
§ 5301. Participation in assigned risk plans. (a) All insurers licensed to write motor vehicle insurance in this state shall subscribe to and participate in the reasonable plan or plans, approved, or which may be approved, by the superintendent after consultation with such insurers, for equitable apportionment among such insurers of applicants for such insurance who are in good faith entitled to but are unable to procure it through ordinary methods.
(b) Amendments to the plan may be made by the committee designated to administer the plan, subject to the approval of the superintendent, or shall be made at the direction of the superintendent.