N.Y. Comp. Codes R. & Regs. tit. 9 § 1642-6.2
The total amount of any disbursement to a stock company shall be charged to account 1211, Prepaid Insurance. When such insurance is written by a mutual company (including State funds operating on a mutual basis), the estimated amount of premium expense as indicated in the proposal received from the company shall be charged to account 1211, Prepaid Insurance, and that portion of the premium which it is estimated will be returned at the expiration of the policy, shall be charged to account 1212, Anticipated Returnable Premiums. Premiums for fidelity bonds purchased prior to the beginning of the initial operating period shall be charged directly to account 1410.12, Fidelity Bonds and Insurance Premiums, or if purchased subsequent to that date, shall be charged directly to account 4710, Insurance.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1642-6.2