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Upstate New York (USA) here. I'm researching insurance law, specifically around the topic of so-called premium audits (aka insurance audits, aka insurance premium audits), which are on-site "field" audits where an insurance carrier sends an auditor to an insured's/policyholder's business to conduct an audit and determine if any corrections need to be made to their policy premium/cost.

I have found various articles that suggest that, at least in other states, state agencies often require/mandate carriers to conduct these routine audits for policies larger than a certain threshold (the amount seems to be different in each state, but usually starts around $10k).

I am wondering if any such agency in NYS also makes such requirement for NY carriers, and if so:

  • Who are they?
  • What laws/legal regulations exist in NYS that govern such requirements (for the mandatory conducting of premium audits)
  • Where can I find out all the details of these regulations?

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