Consolidated Job Impact Statement for the Proposed Repeal of 11 NYCRR Parts 175 and 177 (Insurance Regulations 111 and 142), Repeal of sections 178.8 and 178.10 of 11 NYCRR Part 178 (Insurance Regulation 163), and First Amendment to 11 NYCRR Part 178 (Insurance Regulation 163).

The repeal of Parts 175 and 177 and sections 178.8 and 178.10 of 11 NYCRR, and the amendment to 11 NYCRR Part 178, which merely renumbers section 178.9 to 178.8, should not adversely impact job or employment opportunities in New York. This rulemaking repeals Parts and sections of 11 NYCRR that have been made obsolete by the enactment of statutory provisions that supersede and replace those regulatory provisions.

The Department of Financial Services has no reason to believe that the rules will result in any adverse impacts on job or employment opportunities in New York.