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Regulatory Activity - Insurance Law

Regulatory Activity - Insurance Law
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Notifications

Sign up to receive email notifications when proposed, revised, emergency, and adopted rules are posted to this website.

To be notified by postal mail or to receive copies of Department of Financial Services’ proposed, revised, emergency, and adopted rules, submit a request in writing, including your mailing address, to Regulation Notification Officer, Office of General Counsel, 20th Floor, New York State Department of Financial Services, New York, NY 10004. Written requests expire annually on December 31. Renewal requests for the following year may be submitted by mail on or after December 1.

Note: Unless noted otherwise, all documents available from this page are in PDF format.

Activity update: A final adoption was published on May 15, 2024.

Pre-Proposed Outreach

The following draft regulations are not currently in effect. The Department of Financial Services is considering whether to propose this regulation.

Before filing a proposed regulation for publication in the State Register for a formal comment period pursuant to the New York State Administrative Procedure Act, the Department provides a draft for review and comment by interested persons and the public, including, but not limited to, small businesses and local governments.

Unless otherwise noted, the comment period extends for 10 days from the date of posting. Comments about this proposed regulation can be addressed to the Agency Contact noted.

Updated 03/22/2024

Description and DocumentsDate PostedOutreach Comments Due ByAgency Contact
No draft regulations at this time.   

Proposed Regulations

The Department of Financial Services often proposes regulations addressing important policy considerations that have an impact on the interests of New Yorkers. It is important that every New Yorker with an interest have a fair and equal opportunity to provide feedback on a proposed regulation. To that end, and in compliance with the requirements of the State Administrative Procedure Act (SAPA), all proposed regulations are subject to at least one public comment period of at least 60 days

In the Department’s experience, some members of the public seek to have an additional opportunity to express their opinion on proposed regulation through attempted meetings, calls, or e-mails. The Department is concerned these attempts at additional opportunities to provide feedback on a proposed regulation may create the appearance that certain members of the public have an undue influence on the Department’s deliberation of a proposed regulation. To avoid any appearance of, or actual influence on, the Department’s deliberations, the Department wishes to clarify for the public that the Department will only accept feedback on a proposed regulation that is submitted in writing as part of the public comment process. Furthermore, the Department will not engage in meetings or discussions of a regulation after it is published for comment, barring extenuating circumstances as determined by the Department. The Department strongly discourages interested parties from reaching out to discuss a proposed regulation with the Department, whether in support or opposition to the proposal, outside of the written comment process. Feedback on a proposed regulation should be submitted in writing as part of the public comment process.

The Department encourages everyone interested in a proposed regulation to use the public comment period to submit a written comment on a proposed regulation. Comments can be submitted to the Agency Contact noted below. Questions regarding the content of a specific proposed regulation may also be sent via email to the listed Agency Contact.

The Department will carefully review all public comments and makes a determination on how to proceed with the proposed regulation.

The comment period extends for 60 days from the date of publication in the State Register.

Updated 04/24/2024

Description and DocumentsDate Filed with the Secretary of StateDate Published in the State RegisterPublic comment period expires onAgency Contact

Proposed Rule Making for the 13th Amendment to Insurance Regulation 17, 20 and 20-A (11 NYCRR 125)

April 3, 2024April 24, 2024June 24, 2024Amanda Fenwick

Proposed 7th Amendment to 11 NYCRR 67 (Insurance Regulation 79)

March 14, 2024April 3, 2024June 3, 2024Joana Lucashuk

Proposed 3rd Amendment to 11 NYCRR 82 (Insurance Regulation 203)

March 15, 2024April 3, 2024June 3, 2024Joana Lucashuk

Proposed Consolidated Rulemaking to amend Parts 450 (Reg 219), 452 (Reg 222), and 454 (Reg 224), and add new Parts 456 (Reg 226), 457 (Reg 227), 458 (Reg 228), and 459 (Reg 229) to 11 NYCRR

March 12, 2024March 27, 2024May 28, 2024Kristina Magne

Proposed Consensus Rulemaking for the 66th Amendment to 11 NYCRR 52 (Insurance Regulation 62)

March 5, 2024March 20, 2024May 20, 2024Martin Wojcik

Proposed Rule Making for Insurance Regulation 230 (11 NYCRR 38) 

January 31, 2024February 21, 2024April 22, 2024Stephani Schendlinger

Proposed Consolidated Rulemaking for the 65th Amendment to Insurance Regulation 62 (11 NYCRR 52) and 5th Amendment to Insurance Regulation 34 (11 NYCRR 215)

January 12, 2024January 31, 2024April 1, 2024Michael Grady

WITHDRAWN: Market Conduct Rules for Pharmacy Benefit Managers

DFS has withdrawn the Proposed Consolidated Rulemaking for the Third Amendment to Insurance Regulation 219 (11 NYCRR Part 450), First Amendment to Insurance Regulation 224 (11 NYCRR 454), Insurance Regulation 226 (11 NYCRR Part 456 New), Insurance Regulation 227 (11 NYCRR Part 457 New), Insurance Regulation 228 (11 NYCRR Part 458 New), and Insurance Regulation 229 (11 NYCRR 459 New).

October 31, 2023November 15, 2023N/AN/A

ADOPTED AS FINAL REGULATION: Licensing of Pharmacy Benefit Managers

DFS has adopted as a final adopted regulation the Proposed Consolidated 2nd Amendment to Insurance Regulation 219 [11 NYCRR 450] and addition of New Regulations 223 [New 11 NYCRR 453], 224 [New 11 NYCRR 454] and 225 [New 11 NYCRR 455].  See the Final Adoptions section below.

N/AN/AN/AN/A

Emergency Adoptions

Unless otherwise noted, emergency adoptions will expire 90 days after filing with the Secretary of State.

Questions regarding the content of specific adoptions may be addressed by email to the listed Agency Contact.

Updated 05/03/2024

Description and DocumentsDate Filed with the Secretary of StateDate Published in the State RegisterExpiration DateContact

Emergency 66th amendment to 11 NYCRR 52 (Insurance Regulation 62)

March 5, 2024March 20, 2024May 31, 2024Martin Wojcik

Final Adoptions

A final adopted regulation is a regulation that has been previously proposed and published, for which the public was afforded an opportunity to comment, and which DFS has adopted on a permanent basis. Final, adopted regulations may remain posted here for a limited time following adoption for the convenience of the public, but once adopted can always be accessed in the State Codes, Rules & Regulations (NYCRR) 

Effective 05/15/2024

Adoption (link and description)Effective Date

Minimum Provisions for Automobile Liability Insurance Policies

May 15, 2024

Minimum Standards for the New York State Partnership for Long-Term Care Program

January 3, 2024

Principle-Based Reserving

December 6, 2023

Licensing of Pharmacy Benefit Managers

November 15, 2023

Financial Statement Filings and Accounting Practices and Procedures

November 1, 2023

Minimum Provisions for Automobile Liability Insurance Policies

October 4, 2023

Excess Line Placements Governing Standards

July 12, 2023

General Duties, Accountability, and Transparency Provisions for Pharmacy Benefit Managers; Electronic Filings and Submissions

July 12, 2023

Principle-Based Reserving

March 1, 2023

Charges for Professional Health Services

February 15, 2023

 P2P Car Sharing Regulation

February 8, 2023

Minimum Standards for the Form, Content and Sale of Health Insurance, Including Standards of Full and Fair Disclosure

December 7, 2022

Office of Pharmacy Benefits

August 31, 2022

Registration of Pharmacy Benefit Managers

August 31, 2022

Separate Accounts and Separate Account Contracts

August 31, 2022

Agent Training Allowance Subsidies for Certain Life Insurance and Annuity Business 

August 24, 2022

Minimum Standards for Form, Content and Sale of Health Insurance, Including Standards of Full and Fair Disclosure

July 15, 2022

Principle-Based Reserving

December 29, 2021

Minimum Standards for Form, Content and Sale of Health Insurance, Including Standards of Full and Fair Disclosure

December 22, 2021

Financial Statement Filings And Accounting Practices And Procedures; Risk-Based Capital

December 15, 2021

Brokers, Agents and Certain Other Licensees - General

November 12, 2021

Public Adjusters

October 8, 2021

Credit for Reinsurance

September 29, 2021

Enterprise Risk Management and Own Risk and Solvency Assessment;

August 13, 2021

Final Adoption of Consensus Amendments to Insurance Regulations 78, 96, 68-C, 118, 85, 64 and 90 (11 NYCRR 55, 62, 65-3, 89, 136, 216, and 218)

June 9, 2021

Minimum Standards For Form, Content And Sale Of Health Insurance, Including Standards Of Full And Fair Disclosure

April 22, 2021

Office of Pharmacy Benefits

April 7, 2021

Principle-Based Reserving

March 31, 2021