Rate, Form, Territory, Classification and Rule Filing Instructions for Property/Casualty Filers

As stated in Circular Letter No. 15 (2003) and Circular Letter No. 5 (2009) form and rate filings should  be submitted through the use of the System for Electronic Rate and Form Filings (SERFF).

SERFF, a web-based electronic filing system, facilitates communication, management, analysis and electronic storage of documents and supporting information. An important component of this system, the submissions requirements database, is designed to improve the efficiency of the evaluation, review and approval process by providing up-to-date filing requirements. An added benefit is the improvement of file tracking and management reports.

Insurers are encouraged to visit the SERFF website, www.serff.com, for additional information on licensing and remote hosting, costs/benefit analysis of submitting electronic filings, and SERFF training. If you have questions regarding SERFF or filing instructions, please contact a Department representative as per the following table:

The Insurance Department has prepared these documents and links, which are imbedded in SERFF, to assist companies with the filing of rates, forms, territories, classifications and rules in the State of New York. Through the use of a two-tiered checklist system-Review standards checklists and compliance questionnaires guidelines are provided regarding state requirements and review standards that are applied during the file review.

• Guidelines for Rate, Form, Territory, Classification and Rule Filing Submitted via SERFF
• Guidelines for Rate, Form, Territory, Classification and Rule Filing Submitted via PAPER (Updated 05/12/2011)
• Rate Filing Sequence Checklist
• Select Statutes, Regulations, Circular Letters for Property & Casualty Insurance
• NAIC's "Speed to Market " Program

Departmental Requirements for Individual Lines of Business and Insurance:

The links listed below contain detailed instructions for specific lines of business and insurance. The user is directed to the Departments' Review Standards Checklists. The Review Standards Checklists outline the required minimum policy provisions, rating information and support for each line of insurance, the relevant statutes and Department Regulations necessary for the approval or acknowledgment of a filing. Space is provided for the company to indicate the location within their filing of the provisions that complies with the requirements. The Review Standards Checklists contain additional links to all pertinent Compliance Questionnaires. These "fill-in" questionnaires facilitate an "eyeball " review where the filer and reviewer may be alerted to regulatory concerns within the filing, and the statutes or regulations specifically to each standard. Submission of available review standards checklists and compliance questionnaires is mandatory with SERFF and " Speed to Market" filings pursuant Supplement No. 5 to Circular Letter No. 11(1998) and should also be submitted with paper filings to facilitate review.

To complete the Review Standards Checklists, please follow these instructions:

1. Whenever the insurer determines that all or part of a review standards checklist is not applicable to a filing due to the nature of the submission, it may use the space available on the top of the first page to so indicate and explain. Where additional comment is needed it should be included in the filing memorandum.
2. Column One lists the categories of review standards that the filing will be expected to evidence.  Where compliance is not applicable to all parts of the filing an explanation should be provided.
   • Filings made through SERFF should provide "bookmarks" to the location(s) within their filing of the provisions that complies with the requirements. These bookmarks will facilitate the review and processing of filings by the Department.
   • "Speed To Market" and all other non-SERFF filing bases should insert the location(s) of the provision(s) in compliance in Column Four.
3. Column Two provides the statutory or regulatory reference for each requirement contained in the review standards checklist and a hyperlink to such reference.
4. Column Three includes an explanation of the specific requirement standard that must be met in order to comply with the item(s) reference in Column Two. This may include a link where such specific requirements are explained or discussed in the form of a compliance questionnaire or web page(s).
5. Filers must complete Column Four for each of the categories indicated in order to identify the location of compliance within the filing. If the compliance is required in more than one location in the filing, attachments may be used for further explanation.  Where compliance is not applicable to all parts, an explanation should be provided. The completion of this column is not necessary for filings made through SERFF, which are bookmarked in accordance with the instructions for Column One, above.
   • Filings made through SERFF should provide "bookmarks" to the location(s) within their filing of the provisions that complies with the requirements. These bookmarks will facilitate the review and processing of filings by the Department.
   • "Speed To Market" and all other non-SERFF filing bases should insert the location(s) of the provision(s) in compliance in Column Four.

Updated 10/05/2012