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Filing Guidance For Making Address Changes, Name Changes and Merger/Name Changes

Address Changes For Policy Form

  1. Home Office Address

    In general, Home Office addresses need to be bracketed or underlined on the policy cover page to reflect possible future changes.

    • For New Business:

      An informational filing only needs to be made with the Life Bureau (Albany office) advising of the new Home Office address and its effective date. The filing needs to include a listing of all previously approved life insurance or annuity forms that will be affected by the change. The listing must include a brief description of the type of form, the form identification number, the approval date and Department file number. For example, individual whole life, form no. 86-NY, approved 12/15/02, Department file #xxxxxxx.

    • For Existing Business:

      An endorsement setting forth the new address needs to be submitted for approval and sent to all in-force policyowners, contractholders or certificateholders for life insurance and annuity products. The submission letter must state that all in-force life insurance or annuity policy forms will be amended by the endorsement. It is not necessary to include a listing of all affected policy forms.

  2. Administrative or Service Office Address

    In general, administrative or service office addresses need to be bracketed or underlined to reflect possible future changes.

    • For New Business:

      An informational filing only needs to be made with the Life Bureau (Albany office) advising of the change in address.

    • For Existing Business:

      An informational filing only needs to be made with the Life Bureau (Albany office) advising that all in-force policyowners, contractowners and certificateowners for life insurance and annuity products will be notified of the change.

* Please note that the use of all Company address changes on policy forms is subject to the Company’s applicable filings being made with the Office of General Counsel.

Company Name Changes For Policy Forms

In general, all submission letters need to advise as to the current status of the name change request.

  • For New Business:

    The following two approaches are acceptable:

    1. (a) A name change endorsement is submitted for approval to the Life Bureau (Albany office) and can be used for a period not to exceed six months from the date of approval. Generally, the six month period gives insurers sufficient time to have their previously approved forms reprinted on new company paper. Requests for an extension on the six month time period are reviewed on a case by case basis.

      (b)  At the end of the six month period all policy forms amended by the endorsement need to be submitted to the Department on new company paper for approval.

      (c)  When submitting a name change endorsement a listing of all policy forms to which the endorsement will be attached must be included. The listing of forms must include a brief description of the type of policy form, the form identification number, the approval date and Department file number. For example, individual whole life, form 86-NY, approved 12/15/02, Department file #xxxxxxx.

      (d) The name change endorsement submission must include a certification signed by an officer of the company stating that the language of the policy form(s) to which this endorsement will be attached has been reviewed and is in compliance with all applicable provisions of New York Statutes and regulations.

    2. OR

    3. (a) The previously approved policy forms are reprinted on the new company paper and are submitted for approval. (Please note that this is also required at the end of the six month period for all policy forms amended by the name change endorsement).

      (b)  The policy form submission must include a certification signed by an officer of the company stating that the language of the form(s) has been reviewed and (1) is identical to that provided in the previously approved form(s) except for the name change and if applicable any statutory or regulatory changes and (2) is in compliance with all applicable provisions of New York statute and regulation.

      (c)  The policy form submission for the new policy forms must include a cross listing in the same format described above in item 1(c) identifying the previously approved forms that will be replaced by this new filing.

      (d)  Policy forms being submitted for approval that were not recently approved need to be reviewed and updated to reflect any changes in statutes and regulations.

      If the Company needs to make any changes to the previously approved forms to bring them into compliance with statutory or regulatory changes, the forms must be highlighted or underlined to indicate the specific changes made and the submission letter must identify the changes as being made in addition to the name change.

      (e)  Since there will be a new company name on the policy forms being submitted the company can choose to retain the same form identification number as appeared on the previously approved forms.

  • For Existing Business:
    1. A name change endorsement needs to be submitted for approval and sent to all in-force policyowners, contractowners or certificateholders for life insurance and annuity products. The submission letter must state that all in-force life insurance and annuity forms will be amended by the endorsement. It is not necessary to include a listing of all affected policy forms.
    2. A company may submit one name change endorsement form to be used for both new business and existing business. However, please note as described above that the use of a name change endorsement for new business is limited to a maximum six-month period.

* "Please note that the use of all name changes on policy forms is subject to the Company receiving approval of the proposed name change from the Office of General Counsel. Such use is also contingent upon the filing (and approval for domestic insurers) of the relevant amendments in the Company’s charter with the Office of General Counsel.

Merger/Name Change For Policy Forms

The submission letter needs to advise as to the current status of the merger transaction, including whether or not approval has been received or is pending with the Life Bureau’s New York City Office, and the effective date or expected effective date of the merger. The submission letter needs to identify, if applicable, the surviving company following the merger.

  1. For Existing Business:
    1. A merger/name change endorsement to effectuate the merger and company name change needs to be submitted to the Life Bureau (Albany office) for approval.
    2. The endorsement must indicate that a merger has taken effect and that only the name of the company has changed. The endorsement must provide that the terms and conditions of the policy form have not changed.
    3. If there is any change in the address(es) used for premium payments, notices, claims or actions on the policy form, then notification of such change must be set forth in the endorsement.
    4. The company must provide written assurance to the Department that the company correspondence that will accompany the endorsement form to explain the merger will include a telephone number, address (including e-mail address if appropriate) that the policyowner can use to contact the company with any questions about the merger/name change endorsement.
  2. For New Business:

    The following two approaches are acceptable:

    1. (a) A merger/name change endorsement needs to be submitted for approval to be used for a period not to exceed six months from the date of approval. Please refer to item A.1. above on name change endorsements for the acceptable procedure.

      (b) The name change endorsement submission must include a certification signed by an officer of the company stating that the language of the policy form(s) to which this endorsement will be attached has been reviewed and is in compliance with all applicable provisions of New York Statutes and regulations.

    2. OR

    3. (a) The previously approved policy forms are reprinted on the new company paper and submitted for approval. (Please note that this is required at the end of the six-month period for all policy forms amended by the merger/name change endorsement).

      (b) The policy form submission must include a cross listing of the forms to be replaced to the forms of the new company. The cross listing should be in the same format as indicated above on company name changes.

      (c) The policy form submission must include a certification signed by an officer of the company stating that the language of the forms has been reviewed and (1) is identical to that provided in the previously approved form(s) except for the name change and if applicable any statutory or regulatory changes and (2) is in compliance with all applicable provisions of New York statute and regulation.

      (d) Policy forms being submitted for approval that were not recently approved need to be reviewed and updated to reflect any changes in statute or regulation.

      If the Company needs to make any changes to the previously approved forms to bring them into compliance with statutory or regulatory changes, such forms must be highlighted or underlined to indicate the specific changes being made and the submission letter must identify those changes and indicate that the changes are being made in addition to the merger/name change.

      (e) If there will be a new company name on the previously approved policy forms being submitted as a result of the merger, the company can choose to retain the same form identification number as appeared on the previously approved forms.

      (f)  New statements of self-support are required only for the policy form(s) from the company that will not survive as a result of the merger. If there is a surviving company as a result of the merger and that company has had no change to its corporate structure than new statements of self-support are not required for that company’s policies forms which are being retained after the merger.

* Merger endorsements may be approved on the condition that the Company will not utilize them until the Department (Life Bureau-New York City) has approved the merger transaction and the merger becomes effective. Any proposed name change being made in conjunction with a merger is subject to the required name change filings (mentioned above) being made with the Office of General Counsel .

* Please note that if any address change, name change or merger/name change for life and annuity products also affects accident and health products a separate policy form filings to effectuate such change(s) needs to be made with the Health Bureau (Albany office).