§ 3429. Geographical location of risks; fire, fire and extended
coverage policies; private passenger automobile insurance policies. (a)
No insurer shall refuse to issue or renew or shall cancel a policy of:

(1) fire insurance or fire and extended coverage insurance, or

(2) automobile insurance subject to section three thousand four
hundred twenty-five of this article
based solely on the geographical location of the risk within this state.
Such prohibition shall not preclude an insurer from refusing to issue or
renew or from cancelling such policies based on sound underwriting and
actuarial principles reasonably related to actual or anticipated loss
experience subject to the applicable provisions of section three
thousand four hundred twenty-five of this article.

(b) The superintendent shall by regulation establish procedures with
respect to notification to insureds of the insurer's specific reason or
reasons for refusal to issue or renew or for cancellation of such
policy.