Supplement No. 3 to Circular Letter No. 11 (1998)

August 21, 2000





As part of an overall Department initiative to improve the "speed to market" objective for insurance products in the ever-changing financial services markets, the Property Bureau has developed an optional procedure to assist in streamlining the review and approval and/or acknowledgement process. Insurers may utilize the optional procedure to further expedite the Department's review of form, rule and rate filings.

The checklists available on our website have been modified to provide insurers with a space to identify the location within their filings where complying language, provisions or supporting information may be found. Filings that are accompanied by properly completed checklists and appropriate Compliance Certification(s) will be given priority in processing over filings that are not accompanied by such checklists and Compliance Certification(s). Attached hereto are the "Master List of Available Checklists", the "Policy Form Compliance Certification" form and the "Rate and/or Rating Plan Compliance Certification" form.

Every filing submitted pursuant to this optional procedure must be accompanied by:

  • appropriately completed and signed Compliance Certification(s);
  • appropriately completed Master List of Available Checklists indicating which checklists are included with the filing; and
  • all necessary and appropriately completed checklists, explanatory memoranda, and side-by-side comparisons, as applicable.

All of the above documents are available for downloading in either PDF format or as Word 97 documents from the Department's Web site at

The checklists themselves contain detailed information that the Department utilizes in reviewing items that, by law and regulations, must be included in specific filings. The Web site also includes detailed information and instructions for insurers to follow in order to obtain expedited approval and/or acknowledgement of filings.

Previous circular letters (Circular Letter No. 11 issued on May 7, 1998, and supplements dated November 10, 1998 and December 20, 1999) brought to insurers' attention uniform procedures employed by the Department in its review of policy form, rate and rule filings. Those procedures remain in effect. Insurers are reminded that filings containing novel programs or new policy provisions should include an explanatory memorandum and a side-by-side comparison with the applicable current form. The May 7, 1998 circular letter also invited insurers to contact the Department in order to discuss new products or innovative approaches prior to filing. Appropriate individuals to contact in the Property Bureau to discuss specific lines of insurance are listed on the Web site.

The Department also participates in the NAIC's electronic filings system known as SERFF, and filings for several lines of insurance may now be processed via the SERFF system. Insurers may obtain current information at

In expediting its review of filings accompanied by checklists, Master List of Available Checklists and Compliance Certification(s), the Department will rely on an insurer's indications that all statutes and regulations applicable to the filing have been duly considered and incorporated therein and that all necessary supporting information has been provided. Should it be subsequently determined that the filing did not comport with the applicable requirements, appropriate disciplinary action may be taken against the insurer.

Please address any comments or inquiries regarding this supplement to:

Benita Hirsch, Supervising Insurance Examiner
Property Bureau
New York State Insurance Department
25 Beaver Street
New York, New York 10004

If you cannot access the Department's Web site, you can obtain electronic copies of all aforementioned forms by sending an IBM formatted 3½-inch diskette and a stamped, self-addressed mailer to Ms. Hirsch.

Very truly yours,

Mark Presser
Asst. Deputy Superintendent
and Chief Examiner
Property Bureau



Policy Form Compliance Certification

Rates and/or Rating Plan Compliance Certification

Master List of Compliance Checklists