New York State
Insurance Department


ISSUED: 1/27/2000

FOR IMMEDIATE RELEASE

DEPARTMENT MAKES VIDEO OF PUBLIC HEARING
AVAILABLE ON WEB SITE FOR FIRST TIME
Consumers Can Access Video and Audio of MetLife’s Demutualization Hearing           

         Superintendent of Insurance Neil D. Levin today announced that for the first time, an Insurance Department has made the video of a public hearing available to consumers on its Web site. With the video, consumers can view and listen to the testimony from this week’s hearing on MetLife’s demutualization plan at www.ins.state.ny.us.

         "This is a big breakthrough for consumers because we are giving them easy access to important information," said Levin. "Using the internet to reach MetLife policyholders should contribute to the effectiveness of the demutualization process. Policyholders can use the hearing record in their review of the MetLife demutualization plan."

         The Department held the public hearing January 24th on the plan by MetLife to change its status from a mutual company, owned by policyholders, to a stock company. Levin is required to render a decision on the demutualization plan within 60 days. However, the public record will remain open until February 14th so if anyone wants to add comments to the record, they should call (212) 480-5262. The deadline for policyholder voting is February 7th.


News HOME