New York State Seal
STATE OF NEW YORK
INSURANCE DEPARTMENT
25 BEAVER STREET
NEW YORK, NEW YORK 10004

Circular Letter No. 22 (1999)
June 1, 1999
TO: All licensed life insurers, fraternal benefit societies, charitable annuity societies, property/casualty insurers, co-operative property/casualty insurers, financial guaranty insurers, mortgage guaranty insurers, accident and health insurers, Article 43 Corporations, Public Health Law Article 44 health maintenance organizations and integrated delivery systems, title insurers, the State Insurance Fund, the Medical Malpractice Insurance Association and municipal cooperative health benefit plans; all hereinafter referred to as "insurers".
RE: Suggested Best Practices Resulting From the Joint Department/Industry Working Groups on Form and Rate Filings

In May 1998, the New York Insurance Department convened three joint Department/Industry working groups, one each for the life, health and property insurance industries, to discuss ways in which to improve the Department’s form and rate filing processes.

The working group meetings were productive. We were able to identify a number of best practices for insurers and a number of recommendations for the Department to adopt in order to improve our internal procedures and expedite the filing process.

Some of the best practices for insurers discussed at the meetings include:

The recommendations for improving the Department’s procedures in processing filings include:

The Department appreciates the efforts expended by the industry representatives who participated in the working groups. We are committed to implementing the recommendations, improving the rate and form filing process and being responsive to the insurance industry’s need for timely approvals.

 

__________________________ __________________________
Martin F. Carus Mark Presser
Assistant Deputy Superintendent Assistant Deputy Superintendent
and Chief Examiner and Chief Examiner
Life Bureau Property Bureau

 

__________________________ __________________________
Thomas Zyra Charles Henricks
Acting Chief Insurance Examiner Acting Chief Insurance Examiner
Health Bureau   Health Bureau