NEW YORK STATE
INSURANCE DEPARTMENT

THIRD AMENDMENT TO REGULATION NO. 129
(11 NYCRR 161)

FLEXIBLE-RATING SYSTEM; RATING PLANS;
TORT REFORM REFILING REQUIREMENTS

        I, NEIL D. LEVIN, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Sections 201, 301, 2311, and 2344 and Article 23 of the Insurance Law, Chapters 220, 221, and 682 of the Laws of 1986, and Chapter 65 of the Laws of 1998, do hereby promulgate the following Second Amendment to Part 161 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation 129) to take effect upon publication in the State Register.

ALL MATERIAL IS NEW

A new subdivision (c) is added to Section 161.4 to read as follows:

(c) Flex-bands for legal services insurance and prepaid legal services plans.

(1) The flex-band for a prepaid legal services plan, including legal services insurance written as part of such a plan, is 20%.

(2) The flex-band for legal services insurance written as part of a policy of liability insurance shall be:

(i) the same flex-band that applies to the underlying liability insurance policy, where there is no separate identifiable premium for the legal services insurance; and
(ii) 20%, where there is a separate identifiable premium for the legal services insurance.
 

        I, Neil D. Levin, Superintendent of Insurance of the State of New York, do hereby certify that the foregoing is the third amendment to 11 NYCRR 161 (Regulation 129), promulgated by me on March 1, 2000, pursuant to the authority granted by Sections 201, 301, 2311, and 2344 and Article 23 of the Insurance Law, Chapters 220, 221 and 682 of the Laws of 1986, and Chapter 65 of the Laws of 1998, to take effect upon publication in the State Register.

        Pursuant to the provisions of the State Administrative Procedure Act, prior notice of the proposed amendment was published in the State Register on December 1, 1999. No other publication or prior notice is required by statute.

__________________________
Neil D. Levin
Superintendent of Insurance
  
 

By:_________________________
GREGORY V. SERIO
FIRST DEPUTY SUPERINTENDENT

Dated: March 1, 2000