Merger with Name Change
Any proposed name change being made in conjunction with a merger is subject to the requirements for an issuer name change and the following requirements.
The endorsement must state that a merger has taken effect and that the policy forms are amended only to the extent that the name of the issuer has changed. Additionally, the endorsement must provide notice of any change in the address(es), telephone number(s), website(s), email address(es), and any other contact information used for premium payments, notices, claims, or actions on the policy form.
Additionally, the issuer must provide written assurance to DFS that the issuer’s correspondence that will accompany the endorsement form to explain the merger will include an address, telephone number, website, email address, and any other contract information that the policyholder, contract holder, or certificate holder can use to contact the issuer with any questions about the merger/name change endorsement.
A merger with name change endorsement may be approved on the condition that the issuer will not issue the endorsement until the later of the following: the Health Bureau (New York City), Life Bureau, or Property Bureau (depending on the issuer organization type) has approved the merger transaction and the merger becomes effective; or the Office of General Counsel has approved the name change.