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Examinations & Exam Reports

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Examinations and Exam Reports

Insurance Company Examinations

The Department of Financial Services is required by law to conduct examinations into the affairs of domestic insurers and HMOs. In addition, we also have the authority to conduct an examination into the affairs of any insurance corporation, or other insurer doing or authorized to do any insurance business in this state. There are generally two types of examinations: financial and market conduct. Examinations that cover both financial and market conduct are referred to as "combined." 

The purpose of a financial examination is to verify that an examined entity’s financial statement, as of the examination date, as well as its corporate conduct during the examination period, are in compliance with Department laws, rules, and regulations.

A market conduct examination is focused on the fair treatment of policyholders and the scope of these examinations is on areas such as company operations, complaint handling, marketing, claims, rate and form filing and policyholder service.


Community Reinvestment Act (CRA) Examinations

Banking institutions subject to the New York State Community Reinvestment Act are generally assessed once every 24 to 36 months. Institutions with total assets below $250 million and rated "Satisfactory" or "Outstanding" in their most recent CRA examination performed by the Department generally will be examined once every 48 or 60 months, respectively. The Department prepares a written report summarizing the results of each assessment and assigns to each institution a numerical CRA rating based on a 1 to 4 scoring system, representing a performance assessment as follows:

  • 1 = Outstanding record of meeting community credit needs;
  • 2 = Satisfactory record of meeting community credit needs; 
  • 3 = Needs to improve record of meeting community credit needs; 
  • 4 = Substantial noncompliance in meeting community credit needs.
CRA Exam Reports

The following chart identifies the ratings for banking institutions subject to New York State CRA. To view the public summary of an institution's CRA performance evaluation, simply click on the rating for that institution.

For additional information on recent or upcoming exams see our most recent CRA Examination Schedule.


Financial Services Company Exams