Statement setting forth the basis for the finding that the proposed Fourth Amendment to 11 NYCRR Part 98 (Insurance Regulation 147) will not have a substantial adverse impact on jobs and employment opportunities.

Current Section 98.9(c)(2)(viii), which permits insurers to use certain prescribed lapse assumptions, is subject to "sunset" provisions that would make the section inoperable with respect to policies written on or after January 1, 2014. This amendment deletes the January 1, 2014 sunset provisions to keep the rule in operation. Therefore, amendment of the regulation will not adversely impact job or employment opportunities in New York, or have any adverse impact on self-employment opportunities, because the revision imposes no new or additional requirements on any insurer subject to the rule; it merely keeps the rule in effect with respect to policies written on or after January 1, 2014.