STATUTORY REFERENCE:  Sections 307 and 308 of the Insurance Law

This Supplement No. 1 to Circular Letter No. 4 (2001) adopts several important changes in regard to the electronic filing with the NAIC via the Internet of Annual Statements and New York Supplements, Quarterly Statements and Audited Financial Statements as filings with the Department by authorized foreign property/casualty insurers and authorized foreign title insurers (collectively called “Foreign Insurers”) and foreign accredited reinsurers[1] of the aforementioned types of insurers.

All references in this Supplement to Annual Statements and New York Supplements, Quarterly Statements and Audited Financial Statements include exhibits, schedules and supplements associated with the underlying statement or supplement, even though they may be filed separately or at a later date.

Effective with filings due March 1, 2008 and thereafter, all Foreign Insurers and foreign accredited reinsurers that file their Annual Statements and New York Supplements, Quarterly Statements and Audited Financial Statements pursuant to Section 307 or 308 of the New York Insurance Law on the Property and Casualty and Title blanks, are strongly encouraged to file electronically with the NAIC via the Internet.  By filing over the Internet with the NAIC, an insurer will fulfill its filing requirement with New York and therefore should not file either a hard copy or diskette with the Department.  Please note, however, that filing a diskette with the NAIC will not meet an insurer's filing requirement with this Department, and would necessitate the filing of a diskette with New York.

Instructions about how to file over the Internet with the NAIC are available on the NAIC’s website at http://www.naic.org.  Please click on the link for “Internet Filings”.

This Supplement does not apply to alien accredited reinsurers.  Nor does this Supplement apply to any filings required to be made by insurers with the New York State Department of Taxation.

Please be advised that while the Department will accept electronic filings made with the NAIC via the Internet of the Annual Statements, New York Supplements and Quarterly Statements in lieu of hard copy filings from Foreign Insurers and foreign accredited reinsurers, those companies making electronic filings must also make a hard copy submission to the Department of the completed jurat page for each Annual Statement, New York Supplement and Quarterly Statement signed by the appropriate officers and duly notarized.

Notwithstanding the electronic filing guidelines specified in this Supplement, the Superintendent may, in his discretion, require a Foreign Insurer or foreign accredited reinsurer that has made an electronic filing with the NAIC via the Internet also to make a hard-copy filing with the Superintendent.

Any captioned insurer reporting on the Property and Casualty or Title blanks that is unable to comply with the electronic filing guidelines specified in this Supplement should write to Associate Insurance Examiner Niranjan Robert, at the address given below, within 30 days of the date of the Supplement, and notify the Department that it will not be filing electronically and will instead be filing hard copies with the Department.  Such submission should include an explanation as to why the insurer is unable to make electronic filings.

Questions regarding this Supplement, as well as all hard copy filings of the jurat page, should be directed to:

Niranjan Robert
Associate Insurance Examiner
New York State Insurance Department
Property Bureau – 4th Floor
25 Beaver Street
New York, NY 10004
(212)480-5124
By email: nrobert@ins.state.ny.us

Questions concerning the technical aspects of submitting filings via the Internet may be directed either to Robert Kerrigan, Associate Insurance Examiner, at (212) 480-2333 or Susan Agcaoili, Senior Insurance Examiner, at (518) 473-3775 or e-mail to systems@ins.state.ny.us, Subject: NAIC Internet Filing.

* [1] A “foreign accredited reinsurer” means an assuming insurer, incorporated or organized under the laws of any state other than this state, which is not authorized to do business in this state, but has received a certificate of recognition as an “accredited reinsurer” issued by the Superintendent, as such term is defined in N.Y. Ins. Law § 107(a)(2).