N.Y. Ins. Law § 9109

§ 9109. Refunds and penalties. (a) (1) Whenever the superintendent is\nsatisfied that because of cancellations, some mistake of fact, error in\ncalculation, or erroneous interpretation of a statute of this or any\nother state, any authorized insurer or excess line broker has paid to\nhim pursuant to any provision of law, taxes, fees or other charges in\nexcess of the amount legally chargeable against it during the three year\nperiod immediately preceding the cancellations or the discovery of such\noverpayment, he shall refund to such insurer or excess line broker the\namount of such excess by applying the amount toward the payment of\ntaxes, fees or other charges already due or which may become due from\nsuch insurer until such excess has been fully refunded or at his\ndiscretion make a cash refund. The excess line broker shall pay the\ninsured any refund of premium tax returned to such excess line broker if\nsuch taxes were originally collected from the insured. Such cash refund\nmay be paid from any moneys not turned over to the department of\ntaxation and finance pursuant to the provisions of the state finance\nlaw.\n (2) The superintendent shall retain from the taxes collected pursuant\nto this article an amount sufficient to provide at all times a fund not\nto exceed ten thousand dollars out of which he shall pay any refunds to\nwhich taxpayers shall be entitled under this article.\n (b) (1) If a company, association or person fails within the\nprescribed time to file any report or statement required by this article\nor by section two thousand one hundred eighteen of this chapter, or to\nmake any payment due under the provisions of this article or sections\nthree hundred thirty-three, one thousand one hundred twelve, two\nthousand one hundred five, two thousand one hundred eighteen or four\nthousand four hundred seven of this chapter or section two hundred six\nof the financial services law, the superintendent may order such\ncompany, association or person to pay to the people of this state the\nfollowing penalties:\n (A) not less than one hundred nor more than five hundred dollars for\neach and every failure to file a report or statement within the time\nprescribed;\n (B) five percent of the principal amount of any payment due plus an\nadditional one percent of said sum for the second and subsequent months\nor fractions thereof during which payment has not been made.\n (2) The superintendent may, in his discretion, waive or remit all or\nany part of such penalties if he finds that delay was excusable.\n