New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter C - Fire, Marine, Casualty And Surety Insurers
Part 111 - [Actuarial Opinion]
Section 111.3 - Exemptions from electronic filing and submission requirements

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 111.3

Current through Register Vol. 46, No. 12, March 20, 2024

(a) A property/casualty insurer required to make an electronic filing or a submission pursuant to this Part may apply to the superintendent for an exemption from the requirement that the filing or submission be made electronically by submitting a written request to the superintendent for approval at least 30 days before the insurer must submit to the superintendent the particular filing or submission that is the subject of the request, except that with respect to a filing or submission made pursuant to section 111.2(b)(2) of this Part, an insurer may apply for the exemption by submitting promptly a written request to the superintendent for approval upon receipt of the superintendent's request for an actuarial opinion summary.

(b) The request for an exemption shall:

(1) set forth the insurer's NAIC number;

(2) identify the specific filing or submission for which the in surer is applying for the exemption;

(3) specify whether the insurer is making the request for an exemption based upon undue hardship, impracticability, or good cause, and set forth a detailed explanation as to the reason that the superintendent should approve the request; and

(4) specify whether the request for an exemption extends to future filings or submissions, in addition to the specific filing or submission identified in paragraph (2) of this subdivision.

(c) The insurer requesting an exemption shall submit, upon the superintendent's request, any additional information necessary for the superintendent to evaluate the insurer's request for an exemption.

(d) The insurer shall be exempt from the electronic filing or submission requirement upon the superintendent's written determination so exempting the insurer, where the determination specifies the basis upon which the superintendent is granting or denying the request and to which filings or submissions the exemption applies.

(e) If the superintendent approves an insurer's request for an exemption from the electronic filing or submission requirement, then the insurer shall make a filing in a form and manner acceptable to the superintendent.

1 OFFICIAL NAIC ANNUAL STATEMENT INSTRUCTIONS, PROPERTY/CASUALTY, FOR THE 2016 REPORTING YEAR. Printed September 2016. © Copyright 1984 2016 by National Association of Insurance Commissioners, in Kansas City, Missouri.

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