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New York State Seal

STATE OF NEW YORK
INSURANCE DEPARTMENT

160 WEST BROADWAY
NEW YORK, NEW YORK 10013

                                                                                                 

Circular Letter No. 4 (1997)
 February 21, 1997


                                                                                                

TO: All Licensed Life, Accident and Health, Property/Casualty, Financial Guaranty, Mortgage Guaranty, and Co-operative Property/Casualty Insurance Companies; Reciprocal Insurers; The Medical Malpractice Insurance Association; The State Insurance Fund; Fraternal Benefit Societies; and Accredited Reinsures
RE:  Electronic Filing in Lieu of Hard Copy Filing - 1997 Annual Statement

The National Association of Insurance Commissioners (NAIC) has initiated a pilot project that enables a foreign insurer or a United States Branch of an alien insurer not entered through New York ("non-domestic") to file electronically with the NAIC, certain parts of its annual statement, in lieu of filing the hard copy of those parts in every state in which the insurer is licensed. New York has agreed to participate in this pilot project.

Domestic insurers, including the United States Branches of alien insurers entered through New York ("domestic"), must continue to file all parts of the annual statement in hard copy with New York. All insurers must continue to file all parts of the annual statement on diskette with New York.

Those parts of the annual statement which non-domestics may file electronically with the NAIC are:

Property/Casualty -
           Insurance Expense Exhibit
           Credit Insurance Experience Exhibit
           Long-Term Care Experience Reporting Form

Life/Accident & Health -
           Long-Term Care Insurance Exhibit
           Interest Sensitive Life Insurance Products Report
           Credit Insurance Experience Exhibit
           Life, Health and Annuity Guaranty Association Model Act Assessment Base
           Reconciliation Exhibit
           Adjusts to the Life, Health and Annuity Guaranty Association Model Act Assessment
           Base Reconciliation Exhibit
           Long-Term Care Experience Reporting Form

Fraternal -
           Long-Term Care Insurance Exhibit
           Interest Sensitive Life Insurance Products Report
           Long-Term Care Experience Reporting Form

Non-domestic insurers are advised that they may, but are not required to, file these parts (relevant to their type of company) of the annual statement with the NAIC, in accordance with the rules and procedures established by the NAIC.


Kindly direct any questions to Mel Kwassman, Principal Examiner, at 212-602-0593.