New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IX - Unfair Trade Practices › Part 220 - Holocaust Victims Insurance Claims And Reports › Section 220.5 - Reports to the superintendent of insurance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Every insurer required to submit a report
				by section 2705 (b)  of the Insurance
				Law, or its holding company, shall in such report provide the information
				required by paragraphs (1) through (3), (5) and (7) of subsection (b) of
				section 2705  of the Insurance Law. The report shall
				include the name and telephone number of the contact person designated pursuant
				to section
				220.2(b)(2) 
				of this Part. The report shall be in such format as may be prescribed from time
				to time by the superintendent by circular letter.
(b) Pursuant to section 2705 (b)(4)  of the
				Insurance Law, if requested by the superintendent, and to the extent consistent
				with applicable laws and confidentiality obligations, an insurer, or its
				holding company, shall include in a report filed pursuant to subdivision (a) of
				this section the names of the owner, beneficiaries, and the face amount or
				pay-out value of any insurance policy that could possibly be expected to have
				been issued to a Holocaust victim, as well as the information compiled pursuant
				to section
				220.2(b)(3) 
				of this Part.
(c) An insurer shall
				maintain in its relevant claim file an explanation of any denial or pending
				payment of a claim to any person who alleges or has alleged that he or she is a
				Holocaust victim. An insurer, or its holding company, shall submit such
				explanation to the superintendent, if requested to do so, pursuant to section 2705 (b)(6)  of the
				Insurance Law.
(d) Pursuant to
				section 2705 (b)(8)  of the
				Insurance Law, in the event that an insurer is unable to provide any of the
				information required by section 2705  of the Insurance Law, the insurer, or
				its holding company, shall report an explanation of the reasons for such
				inability, and shall indicate, to the best of its current knowledge and
				information, why and whether such information may become ascertainable in the
				future.
(e) Any report required by
				section 2705 (b)  of the Insurance
				Law shall be made no later than January 30, 1999 and annually thereafter for
				each of the succeeding 10 years, with the last report due on January 30,
				2009.
(f) Pursuant to section 2705 (c)  of the Insurance
				Law, a report shall be certified and affirmed under oath as being true and not
				misleading, and as containing the most accurate information available at the
				time of the submission of the report. A certification shall be given by the
				chief executive officer (or comparable officer) of each insurer and its holding
				company, if any.
(g) Pursuant to
				section 2709 (a)  of the Insurance
				Law, and subject to the discretion of the superintendent, an insurer may
				satisfy the requirements of section 2705  of the Insurance Law by filing
				annually with the superintendent, no later than January 30th, a copy of any
				report, certificate, or other disclosure of information which it or its holding
				company has filed in another jurisdiction pursuant to the laws thereof, and
				which is substantially equivalent to the report or reports which the insurer is
				required to submit under section 2705  of the Insurance Law, and shall also
				submit a schedule or index referring to the specific requirements of section 2705  of the Insurance Law and this section
				which demonstrates that the requirements of both are substantially met by the
				report, certificate or disclosure filed in the other jurisdiction.