SERFF Filing Guidelines for Regulation 60 Procedures
Direct replacement procedures per Section 51.6(e) and alternate replacement procedures per Section 51.4 of Insurance Regulation No. 60 may now be submitted via SERFF. In addition, revised replacement forms in lieu of the forms posted on the website can be submitted via SERFF for prior approval per Section 51.8 of Insurance Regulation No. 60. Print screens for electronic applications can be submitted through SERFF to both the Policy Form Unit and the Market Conduct Unit for review.
The following are general guidelines for SERFF filing on Regulation 60 procedures.
Filing Authority/Scope of Authority
For submission on direct or alternate replacement procedures, please use:
Filing Type = Regulation 60 Procedures
TOI = Life Insurance, Annuities, or Life Insurance and Annuities
Please choose one of the three choices that the Regulation 60 procedures apply to.
Sub-TOI = Direct Mail, Telesales, Face-to-Face Agent Sales, Electronic, Combination of above, Other
Please choose the appropriate type of distribution that will be used for the submitted replacement procedures. Electronic applies to both internet sales with no agent involvement and the use of e-Application Tools on Agent Sales. Please note that for Electronic and Telesales, print screens of the entire application process should also be submitted.
For submission on replacement forms including supplemental forms to any replacement forms, please use:
Filing Type = Regulation 60 Replacement Forms
TOI = Life Insurance, Annuities, or Life Insurance and Annuities
Please choose one of the three choices that the Regulation 60 replacement forms apply to
Sub-TOI = Direct Mail, Telesales, Face-to-Face Agent Sales, Electronic, Combination of above, Other
Please choose the appropriate type of distribution that will be used for the submitted Regulation 60 replacement forms.
The Company can submit documents to both the Policy Form Unit and the Market Conduct Unit by cloning the file (i.e. for submission of print screens on electronic or telesales application). In this instance, all the items from the original filing will be copied to the new filing. To ensure the new filing is submitted to the correct area, please change the default selections of the TOI, Sub TOI and Filing Type to the Regulation 60 options noted above for making a Regulation 60 submissions. (this way the file won’t appear as another duplicate submission on policy form)
When the Company clones the file, please provide the following on the General Information tab:
If a submission involves filings for both policy form approvals and Regulation 60 reviews, the SERFF (or State) tracking number related to the filing should be included in either the “Filing Description” or the “Corresponding Filing Tracking Number” field (i.e. the tracking number of the policy form filing) .
Filing Basis
Provide a general description on the nature of the filing under the Filing Description in SERFF. Other information can also be included in this section. The Requested Filing Mode can be left blank in SERFF.
For questions regarding Regulation 60 Submissions requirements, contact Sharon Ma at (212) 480-4659 or email at [email protected]
IMPORTANT NOTE: Please notify Sharon Ma by phone or email once the Regulation 60 filings have been submitted through SERFF. This will facilitate timely review of the filing as the system does not automatically generate notifications when submissions are filed.