April 06, 2012
Property/Casualty Rate and Form Filings Now Accessible Using Department's Website, Superintendent Lawsky Says
New Application Will Make It Easier and Faster to Get Filings
Benjamin M. Lawsky, Superintendent of Financial Services, today announced that the Department of Financial Services is making it easier and faster for members of the public and others to look at the data used by property/casualty insurers to support rate increases, introduce new products or change existing insurance products.
Superintendent Lawsky said people will now be able to search for and download insurance company rate and form filings by using a new application at this location on the Department’s website, https://myportal.dfs.ny.gov/web/guest-applications/serff-property-foil.
“Making these filings available electronically will mean people will not have to wait 10 days or more for a the Freedom of Information (FOIL) request to be manually processed and mailed, but can simply download any filings they want to review,” Superintendent Lawsky said. “This will increase transparency, promote greater efficiency and help drive down the Department’s cost of doing business. Easier access to this information may also encourage greater innovation in the insurance industry.”
The Department receives and processes nearly 3,000 requests for finalized insurer filings annually.
Previously, FOIL requests were used to manage the process of releasing such filings, because most of the data contained in the filings is considered a public record once it is submitted to the Department. Now, instead of the submission of FOIL requests, the process will be better managed electronically through the website application. Anyone who wants to review filings may access them by downloading the data directly from the Department’s website, which will end the need for the Department to provide paper copies or compact discs to requestors.
As in the past, the Department will carefully scrutinize the material that it makes publicly available to ensure that confidential information is not released. Such information may include data that is considered proprietary to insurers.
For more information: Ron Klug, 518.474.4567