12/26/07 N.Y. St. Reg. INS-42-07-00005-A
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
Amendment of Part 100 (Regulation No. 179) of Title 11 NYCRR.
Statutory authority:
Insurance Law, sections 201, 301, 1304, 4217, 4218, 4221, 4224, 4240, and 4517, and articles 24 and 26
Subject:
Recognition of the 2001 CSO mortality table for use in determining minimum reserve liabilities and nonforfeiture benefits and recognition and guidance for use of the 2001 CSO preferred class structure mortality table for use in determining minimum reserve liabilities.
Purpose:
To recognize and permit the use of the 2001 CSO preferred class structure mortality table for preferred lives for individual life insurance and group life insurance products sold to individuals by certificate with premium rates guaranteed from issue for at least two years in accordance with sections 4217 and 4517 of the Insurance Law.
Text or summary was published
in the notice of proposed rule making, I.D. No. INS-42-07-00005-P, Issue of October 17, 2007.
Final rule as compared with last published rule:
No changes.
Text of rule and any required statements and analyses may be obtained from:
Andrew Mais, Insurance Department, 25 Beaver St., New York, NY 10004, (212) 480-2285, e-mail:
amais@ins.state.ny.usAssessment of Public Comment
The agency received no public comment.
