N.Y. Ins. Law § 1604

§ 1604. Registration. (a) An authorized domestic insurer shall\nregister with the superintendent within thirty days of becoming subject\nto registration and shall amend the registration within thirty days\nfollowing any material change to the information provided in the\nregistration. The registration shall be in such form and shall contain\nsuch matters as the superintendent prescribes. The superintendent may\ngrant reasonable extensions of the time to register.\n (b)(1) An authorized domestic insurer, other than a domestic insurer\nrequired to register as a controlled insurer pursuant to section one\nthousand five hundred three of this chapter, shall adopt a formal\nenterprise risk management function and shall file an enterprise risk\nreport with the superintendent by April thirtieth of each year. The\nreport shall, to the best of the insurer's knowledge and belief,\nidentify the material risks within any subsidiary that could pose\nenterprise risk to the insurer.\n (2) For the purposes of this article, "enterprise risk" means any\nactivity, circumstance, event, or series of events involving one or more\nsubsidiaries of an insurer that, if not remedied promptly, is likely to\nhave a material adverse effect upon the financial condition or liquidity\nof the insurer, including anything that would cause the insurer's\nrisk-based capital to fall into company action level as set forth in\nsection one thousand three hundred twenty-four of this chapter, or that\nwould cause further transaction of business to be hazardous to the\ninsurer's policyholders or creditors or the public.\n