The Office of General Counsel issued the following opinion on July 9, 2007 representing the position of the New York State Insurance Department.
RE: Class Action Suits
The inquirer asked whether in New York State insurance company defendants in a class action suit must notify the New York State Insurance Department, another state agency, or the New York State Attorney General about the class action. The Office of General Counsel will not opine about class action suits, which fall outside the scope of the New York State Insurance Law; however, there is no such notification requirement in the Insurance Law, and we are unaware of such a requirement in any other state law. The inquirer may want to consult with the New York State Attorney General.
For further information you may contact Senior Attorney Elizabeth Barrett at the New York City Office.