STATE OF NEW YORK
25 BEAVER STREET
NEW YORK, NEW YORK 10004
|Circular Letter No. 21 (1999)
May 21, 1999
|TO:||ALL INSURERS AUTHORIZED TO WRITE LIFE INSURANCE AND ANNUITIES, INCLUDING LIFE INSURERS, FRATERNAL BENEFIT SOCIETIES, CHARITABLE ANNUITY SOCIETIES, SAVINGS BANK LIFE INSURANCE DEPARTMENTS AND ALL LICENSED VIATICAL SETTLEMENT COMPANIES|
|RE:||RESUBMISSION OF POLICY FORM FILINGS REVISED IN ACCORDANCE WITH THE PRODUCT OUTLINES|
To facilitate the policy form review process, all insurers are encouraged to re-examine their policy form and rate submissions currently pending initial review within the Life Bureau and revise them if necessary in accordance with the product outlines available on the Departments website at http://www.ins.state.ny.us. The first product outlines became available on February 16, 1999 and additional product outlines are being added to the Departments website each month. The resubmission procedure will assist both the Department and submitting insurers by improving the quality of pending submissions and reducing the time necessary for their review.
The revised policy form submissions should be made to the Life Bureau and you should indicate in the "Re" or caption of the resubmission cover letter references to this Circular Letter No. 21 (1999) and the Departments file number for the original filing. The body of the cover letter shall identify the forms being revised, the changes made and the product outline that was utilized. If the policy form identification number is revised, including a new edition date or the addition of "Rev", the "Re" or caption of the resubmission letter must reference the forms being resubmitted in accordance with the format required by Circular Letter No. 8 (1999).
There will be no change in the Departments file number previously assigned to the submission and, therefore, no change in the order of review. The resubmission procedure is only available for pending policy form submissions that have not been initially reviewed by the Department. Please contact the Life Bureau at (518) 474-4552 or (518) 474-7929 to determine the status of your filings prior to making any resubmission.
Very truly yours,
Martin F. Carus
Assistant Deputy Superintendent and