N.Y. Comp. Codes R. & Regs. tit. 11, § 165.1 – Preamble.

(a) Section 2323 of the Insurance Law directs the Superintendent of Financial Services, by regulation, to establish a method for determining and reporting profitability for each kind of property and liability insurance. Specifically, subsections (a) and (b) of section 2323 provide as follows:
“(a) The superintendent shall by regulation establish a method for determining profitability, from whatever source such profits are derived, and rates of return on net worth, assets and earned premiums, with respect to each kind of insurance subject to this article, based on reasonable and uniform assumptions, including assumptions as to (1) amounts of net worth attributable to such kinds of insurance, (2) assets available for investment generated by such kinds of insurance, (3) federal income taxes, and (4) average earnings on insurers' investments.
(b) The regulation shall require insurers annually to report to the superintendent, who will make these reports available to the public, concerning such profitability and rates of return.”
(b) This Part implements the mandate of the legislature contained in the foregoing.
(c) A discussion of its essential principles and a comparison with the National Association of Insurance Commissioners' approach to measuring profitability is set forth in Appendix 15, infra.