(d) The superintendent shall monitor the degree and continued existence of competition and the effectiveness of flexible rating in this state on an on-going basis. In doing so, the superintendent shall utilize the following standards or factors:

1. (1) the standards contained in section two thousand three hundred eight of this article;
2. (2) existing relevant information, analytical systems and other sources, or rely on some combination thereof;
3. (3) the number of insurers or group of affiliated insurers actively engaged in providing coverage, taking into account the specialization traditionally required for insurance in the particular rating territory;
4. (4) measures of market concentration and changes of market concentration over time, which may include the use of Herfindahl-Hirschman Index (HHI) and the United States Department of Justice merge guidelines for an unconcentrated market ease of entry, and the existence of financial or economical barriers that could prevent new firms from entering the market;
5. (5) the extent to which any insurer or group of affiliated insurers controls all or a dominant portion of the market has actively sought to prevent competition;
6. (6) whether the total number of companies writing the line of insurance in this state is sufficient to provide multiple options;
7. (7) the availability of insurance coverage to consumers;
8. (8) the opportunities available to consumers in the market to acquire pricing and other consumer information; and
9. (9) any other factors relevant to inquiry. Such activities may be conducted internally within the department, in cooperation with other state insurance departments, through outside contractors and/or in any other appropriate manner, provided that the department shall report to the speaker of the assembly, temporary president of the senate, and governor on the effectiveness of flexible rating on the for hire motor vehicle market by December first, two thousand twenty-seven and every two years thereafter.