11 CRR-NY 59.6NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 11. INSURANCE
CHAPTER III. POLICY AND CERTIFICATE PROVISIONS
SUBCHAPTER A. LIFE, ACCIDENT AND HEALTH INSURANCE
PART 59. MINIMUM STANDARDS FOR THE FORM, CONTENT AND SALE OF GROUP AND BLANKET INSURANCE CERTIFICATES DEEMED TO HAVE BEEN DELIVERED IN THIS STATE PURSUANT TO SECTION 3201(B) OF THE INSURANCE LAW
11 CRR-NY 59.6
11 CRR-NY 59.6
59.6 Accelerated approval procedure.
(a) Any certificate, other than those subject to section 59.4(b) of this Part, will be granted a conditional approval upon the insurer's certification of full compliance with all applicable laws and regulations relative to group insurance policies and certificates of the same type delivered in this State.
(b) The certification and the certificate must include a statement that the insurer will retroactively modify such certificate form to the extent necessary, if it is found by the superintendent that the certificate fails to comply in all respects with the applicable law and regulations.
(c) Such certification shall include a statement of the expected benefit ratio and, as an attachment, the actuarial memorandum required by section 59.5 of this Part.
(d) In the event the superintendent determines, at the time of filing, that the certification is incomplete or the certificate fails to meet the tests as certified above, no conditional approval under this section will be given.
11 CRR-NY 59.6
Current through July 31, 2021
| End of Document |
IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.