Valuation of Life Insurance Reserves; Recognition of the 2001 CSO Mortality Table and the 2017 ...
NY-ADR
4/22/20 N.Y. St. Reg. DFS-03-20-00011-A
NEW YORK STATE REGISTER
VOLUME XLII, ISSUE 16
April 22, 2020
RULE MAKING ACTIVITIES
DEPARTMENT OF FINANCIAL SERVICES
NOTICE OF ADOPTION
I.D No. DFS-03-20-00011-A
Filing No. 271
Filing Date. Apr. 07, 2020
Effective Date. Apr. 22, 2020
Valuation of Life Insurance Reserves; Recognition of the 2001 CSO Mortality Table and the 2017 CSO Mortality Table, et al.
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
Amendment of Part 98 (Regulation 147) and Part 100 (Regulation 179) of Title 11 NYCRR.
Statutory authority:
Financial Services Law, sections 202, 302; Insurance Law, sections 301, 1304, 1308, 4217, 4218, 4221, 4224, 4240, and 4517
Subject:
Valuation of Life Insurance Reserves; Recognition of the 2001 CSO Mortality Table and the 2017 CSO Mortality Table, et al.
Purpose:
Prescribes 2001 CSO ultimate mortality for guaranteed issue policies issued on or after 1/1/20 and extends 2015 reserve relief.
Text or summary was published
in the January 22, 2020 issue of the Register, I.D. No. DFS-03-20-00011-EP.
Final rule as compared with last published rule:
No changes.
Text of rule and any required statements and analyses may be obtained from:
Amanda Fenwick, New York State Department of Financial Services, One Commerce Plaza, Albany, New York 12257, (518) 474-7929, email: [email protected].
Initial Review of Rule
As a rule that requires a RFA, RAFA or JIS, this rule will be initially reviewed in the calendar year 2023, which is no later than the 3rd year after the year in which this rule is being adopted.
Assessment of Public Comment
The agency received no public comment.
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