Statement setting forth the basis for the finding that the proposed Sixth Amendment to 11 NYCRR Part 80-1 (Insurance Regulation 52) will not have a substantial adverse impact on jobs and employment opportunities.

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. This rulemaking is amended to conform to recent amendments made to Insurance Law sections 1505(d) and 1506 by Chapter 238 of the Laws of 2013. The Department of Financial Services believes that the amended rule will not result in any adverse job or employment impact.