reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 101 - Standards For Financial Risk Transfer Between Insurers And Health Care Providers › Section 101.8 - Provider stop loss insurance policy; notice to the superintendent

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Notice to the
				  superintendent of the termination, cancellation, or nonrenewal of the provider
				  stop loss insurance policy and, notice of any material change to the terms of
				  the coverage, shall be in writing and shall be mailed or delivered to the
				  superintendent at the following address:
New York State Insurance Department
Health Bureau
25 Beaver Street
New York, NY 10004
(b) With respect to notice of termination,
				  cancellation, nonrenewal or material change of the terms of the coverage, the
				  notice shall be mailed or delivered to the superintendent at least 90 days
				  prior (or 45 days for notice of cancellation for nonpayment of premium) to the
				  effective date of the notice. A copy of the notice issued to the insured shall
				  accompany the notice to the superintendent.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 101 - Standards For Financial Risk Transfer Between Insurers And Health Care Providers › Section 101.10 - Exemptions

Current through Register Vol. 46, No. 28, July 10, 2024
A financial risk transfer agreement whereby the health care
					 provider receives projected innetwork capitation from an individual insurer,
					 during any consecutive 12-month period, of no more than $250,000, shall be
					 exempt from the provisions of this Part. A financial risk transfer agreement
					 whereby the health care provider receives projected in-network capitation from
					 an individual insurer, during any consecutive 12-month period, of more than
					 $250,000 but less than $1,000,000, shall only be exempt from the following
					 provisions of this Part:
(a) the need
				  for the superintendent's approval of the financial risk transfer agreement,
				  including the need to demonstrate to the superintendent the financial
				  responsibility of the health care provider, as set forth in section
				  101.4(c) 
				  of this Part; and
(b) the
				  provisions of section
				  101.9(a)(3) 
				  of this Part as respects the requirements for the filing of the health care
				  provider's financial statement and the CPA opinion thereon with the
				  superintendent.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 102 - Minimum Standards For Determining Reserve Liabilities And Nonforfeiture Values For Preneed Life Insurance › Section 102.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of this Part is to prescribe rules establishing
					 minimum standards for reserves and nonforfeiture values for preneed life
					 insurance in accordance with statutory reserve formulae.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 102 - Minimum Standards For Determining Reserve Liabilities And Nonforfeiture Values For Preneed Life Insurance › Section 102.2 - Applicability

Current through Register Vol. 46, No. 28, July 10, 2024
This Part shall apply to every authorized life insurance
					 company and licensed fraternal benefit society in this State and every insurer
					 holding a certificate from the superintendent as being accredited for the
					 reinsurance of life insurance (all hereafter referred to as insurers). This
					 Part shall be applicable to such insurers for all statements filed after the
					 effective date of this Part.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 102 - Minimum Standards For Determining Reserve Liabilities And Nonforfeiture Values For Preneed Life Insurance › Section 102.3 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) 2001 CSO
				  Mortality Table has the meaning contained in section
				  100.3(a) 
				  (Regulation 179) of this Title.
(b)
				  Actuarial opinion has the meaning contained in section
				  95.4(a)(1) 
				  (Regulation 126) of this Title.
(c)
				  Actuarial memorandum means the memorandum filed in support of the actuarial
				  opinion. The form and substance of the actuarial memorandum shall be the same
				  as that described in section
				  95.9 
				  of this Title.
(d) Appointed
				  actuary has the meaning contained in section
				  95.4(e) 
				  of this Title.
(e) Preneed life
				  insurance means any life insurance policy or certificate that is issued in
				  combination with, in support of, with an assignment to, or as a guarantee for,
				  a prearrangement agreement for goods and services, or other benefits, to be
				  provided at the time of and immediately following the death of the insured.
				  Goods and services may include embalming, cremation, body preparation, viewing
				  or visitation, coffin or urn, memorial stone, and transportation of the
				  deceased. The status of the policy or certificate as preneed life insurance is
				  determined at the time of issue in accordance with the policy form
				  filing.
(f) Ultimate 1980 CSO
				  Mortality Table means the mortality table without 10-year select mortality
				  factors, consisting of separate rates of mortality for male and female lives,
				  developed by the Society of Actuaries Committee to Recommend New Mortality
				  Tables for Valuation of Standard Individual Ordinary Life Insurance,
				  incorporated in the 1980 National Association of Insurance Commissioners (NAIC)
				  Amendments to the Model Standard Nonforfeiture Law and Standards Valuation Law
				  for Life Insurance, and referred to in those models as the Commissioners 1980
				  Standard Ordinary Mortality Table without 10-year select mortality
				  factors.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 102 - Minimum Standards For Determining Reserve Liabilities And Nonforfeiture Values For Preneed Life Insurance › Section 102.4 - Minimum valuation standards

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Minimum valuation mortality standard. For
				  preneed life insurance, the minimum standard for determining reserve
				  liabilities and nonforfeiture values for both male and female insureds shall be
				  the Ultimate 1980 CSO Mortality Table subject to the transition rules provided
				  in section
				  102.5 
				  of this Part.
(b) Minimum valuation
				  interest rate standards.
(1) The interest
				  rates used in determining the minimum standard for valuation shall be the
				  calendar year statutory valuation interest rates as defined in section 4217 (c)(4)  of the
				  Insurance Law.
(2) The interest
				  rates used in determining the minimum standard for nonforfeiture values shall
				  be the nonforfeiture interest rates as defined in section 4221 (k)(10)  of the
				  Insurance Law.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 102 - Minimum Standards For Determining Reserve Liabilities And Nonforfeiture Values For Preneed Life Insurance › Section 102.5 - Transition rules

Current through Register Vol. 46, No. 28, July 10, 2024
(a) For a
				  preneed policy or certificate issued on or after January 1, 2009 and before
				  January 1, 2012, the 2001 CSO Mortality Table may be used as the minimum
				  standard for reserves and nonforfeiture benefits for both male and female
				  insureds.
(b) If an insurer elects
				  to use the 2001 CSO Mortality Table as a minimum standard for any preneed
				  policy or certificate issued on or after January 1, 2009 and prior to January
				  1, 2012, the insurer shall provide, as part of the actuarial opinion and
				  memorandum submitted in support of the insurer's asset adequacy testing as
				  specified in Part 95 of this Title, an annual written notification of such use
				  to the superintendent. The notification shall include:
(1) a complete list of all preneed life
				  insurance policy forms that use the 2001 CSO Mortality Table as a minimum
				  standard;
(2) a certification
				  signed by the appointed actuary stating that the reserve methodology, which is
				  employed by the insurer in determining reserves for preneed life insurance
				  issued after January 1, 2009 and using the 2001 CSO Mortality Table as a
				  minimum standard, develops adequate reserves. For the purposes of this
				  certification, the preneed life insurance using the 2001 CSO Mortality Table as
				  a minimum standard cannot be aggregated with any other policies and
				  certificates; and
(3) supporting
				  information regarding the adequacy of reserves for preneed life insurance
				  issued on or after January 1, 2009 and using the 2001 CSO Mortality Table as a
				  minimum standard for reserves.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
The purposes of this Part are to:
(a) adopt the valuation manual and exercise
				  the superintendent's authority, pursuant to Insurance Law section
				  4217(g), to deviate,
				  through regulation, from the reserve standards, valuation methods, assumptions,
				  and related requirements in the valuation manual; and
(b) prescribe rules for valuing statutory
				  reserves subject to the requirements of the valuation manual.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.2 - Superintendent's authority to require reserve adjustments

Current through Register Vol. 46, No. 28, July 10, 2024
(a) This Part shall apply to all life
				  insurance companies and fraternal benefit societies doing business in this
				  State and all insurers holding a certificate of recognition as an accredited
				  reinsurer of life insurance, annuity contracts, or accident and health
				  insurance.
(b) This Part shall
				  apply to individual and group life insurance policies, annuity contracts, and
				  accident and health insurance contracts issued on or after the relevant dates
				  specified in the applicable sections of this Part.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.3 - Superintendent's authority to require adjustments from the valuation manual

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				  superintendent may require a life insurance company to change an assumption or
				  method that in the superintendent's opinion is necessary to comply with the
				  requirements of the valuation manual or Insurance Law section 4217(g), and the
				  life insurance company shall adjust the reserves as required by the
				  superintendent. Pursuant to Insurance Law section 308, the superintendent may
				  request information from a life insurance company in addition to the
				  information specified in the valuation manual. The superintendent may take
				  other disciplinary action as permitted by the Insurance Law, Financial Services
				  Law, and any other applicable laws and regulations.
(b) For purposes of this Part,
valuation manual
shall have the meaning set forth in Insurance
				  Law section 4217(g)(5).
1 The 2023 Valuation Manual,
					 published by the National Association of Insurance Commissioners, is hereby
					 incorporated by reference in this Part. The 2023 Valuation Manual is readily
					 available without charge at the following internet address:
https://www.naic.org/pbr_data.htm
.
					 The 2023 Valuation Manual is also available for public inspection and copying
					 at the New York State Department of Financial Services, One State Street, New
					 York, NY 10004.
(c) Except
				  where the valuation manual conflicts with any provision of the Insurance Law or
				  this Title, the valuation manual is adopted in its entirety, subject to the
				  effective dates and other requirements specified in the applicable sections of
				  this Part that deviate from the valuation manual.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.4 - Valuation of individual term life insurance and individual certificates issued under a group term life contract

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Scope. This section applies to all
				  individual term life insurance policies and all individual life certificates
				  under a group term life contract that meet the requirements of section 1.B of
				  VM-20, whether directly written or assumed through reinsurance, issued on or
				  after January 1, 2019.
(b) An
				  insurer may elect to apply the minimum reserve standards in subdivision (c) of
				  this section for policies issued on or after January 1, 2019 and prior to
				  January 1, 2020, provided such standards are applied to all policies issued on
				  or after the date elected.
(c) The
				  minimum aggregate reserve, where the level of aggregation is defined by Section
				  2.A of VM-20 of the valuation manual, for term life insurance policies issued
				  on or after January 1, 2020 shall be the greater of:
(1) the sum of the greater of the cash
				  surrender value and 70% of the minimum reserve calculated in accordance with
				  the methodology and assumptions prescribed by Insurance Law section
				  4217(a) through (f), Part
				  98 (Insurance Regulation 147) of this Title, Part 100 (Insurance Regulation
				  179) of this Title, and any other applicable regulations, determined for each
				  policy on a seriatim basis; and
(2)
				  the minimum aggregate reserve calculated in accordance with the methodology and
				  assumptions prescribed by the valuation manual prior to reflecting any
				  reinsurance ceded.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.5 - Valuation of payout annuity reserves

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Scope.
(1) This section applies to the following,
				  whether group or individual, including both life contingent and term certain
				  only contracts, directly written or assumed through reinsurance:
(i) immediate annuity contracts issued on or
				  after January 1, 2019;
(ii) deferred
				  income annuity contracts issued on or after January 1, 2019;
(iii) structured settlements in payout or
				  deferred status issued on or after January 1, 2019;
(iv) fixed payout annuities resulting from
				  the exercise of settlement options or annuitizations of host contracts, for
				  which the fixed payout annuities commence on or after January 1,
				  2019;
(v) supplementary contracts,
				  excluding contracts with no scheduled payments (such as retained asset accounts
				  and settlements at interest), issued on or after January 1, 2019;
(vi) fixed income payment streams
				  attributable to guaranteed living benefits associated with deferred annuity and
				  variable annuity contracts, for which the fixed income payment streams
				  commence on or after January 1, 2019, once the contract funds are exhausted;
				  and
(vii) certificates with premium
				  determination dates on or after January 1, 2019, under non-variable group
				  annuity and pure endowment contracts purchased under a retirement plan or plan
				  of deferred compensation, established or maintained by an employer, including a
				  partnership or sole proprietorship, or by an employee organization, or by both,
				  other than a plan providing individual retirement accounts or individual
				  retirement annuity contracts under Internal Revenue Code section
				  408.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.6 - Valuation of variable annuity and hybrid annuity reserves

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Scope.
(1) This section applies to the following
				  categories of insurance policies and annuity contracts, whether directly
				  written or assumed through reinsurance:
(i)
				  variable deferred annuity contracts, regardless of whether such contracts
				  contain GMDBs or VAGLBs;
(ii)
				  variable immediate annuity contracts, regardless of whether such contracts
				  contain GMDBs or VAGLBs;
(iii)
				  individual and group annuity contracts with guarantees similar in nature to
				  GMDBs, VAGLBs, or any combination thereof;
(iv) hybrid annuities; and
(v) all other insurance policies or annuity
				  contracts that contain guarantees similar in nature to GMDBs or VAGLBs, even if
				  the insurer does not offer the mutual funds or variable funds to which these
				  guarantees relate, where there is no other explicit reserve requirement. If an
				  insurer offers such a guarantee as part of an insurance policy or annuity
				  contract that has an explicit reserve requirement and that guarantee does not
				  currently have an explicit reserve requirement, then the minimum reserve held
				  for the insurance policy or annuity contract shall equal the sum of:
(a) the reserve for the guarantee where for
				  purposes of the reserve calculation, the guarantee is treated as a separate
				  contract; and
(b) the reserve for
				  the underlying insurance policy or annuity contract determined according to the
				  explicit reserve requirement.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.7 - Valuation of all other reserves

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Scope. This section applies to all individual life insurance policies issued on
				  or after January 1, 2020 and group life insurance policies, annuity contracts,
				  and accident and health insurance contracts issued on or after January 1, 2021,
				  for which sections 103.4, 103.5, and 103.6  of this Part do not apply.
(b) The minimum aggregate reserve, where the
				  level of aggregation is defined by Section 2.A of VM-20 of the valuation
				  manual, for individual life insurance policies issued on or after January 1,
				  2020 shall be the greater of:
(1) the sum of
				  the minimum reserves calculated on a seriatim basis in accordance with the
				  methodology and assumptions prescribed by Insurance Law section
				  4217(a) through (f), Part
				  98 (Insurance Regulation 147) of this Title, Part 100 (Insurance Regulation
				  179) of this Title, and any other applicable regulations; and
(2) the minimum aggregate reserve calculated
				  in accordance with the methodology and assumptions prescribed by the valuation
				  manual prior to reflecting any reinsurance ceded.
New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 103 - Principle-Based Reserving › Section 103.8 - Reinsurance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The minimum
				  valuation standards specified by this Part are prior to reflecting any
				  reinsurance ceded.
(b) A credit for
				  reinsurance may be recognized for reinsurance agreements that comply with the
				  Insurance Law and this Title, including Insurance Law section
				  1308, Part 79 (Insurance Regulation 133),
				  Part 125 (Insurance Regulation 20), Part 126 (Insurance Regulation 114), Part
				  83 (Insurance Regulation 172), and Part 127 (Insurance Regulation 102) of this
				  Title, and any other applicable regulations, as applicable.
(c) For each such reinsurance agreement, the
				  credit for reinsurance shall be the difference between the reserve determined
				  prior to reflecting such reinsurance and the reserve determined after
				  reflecting such reinsurance, where the reserve after reflecting such
				  reinsurance is calculated as follows:
(1) for
				  individual term life insurance policies and individual life certificates under
				  a group term life contract subject to section
				  103.4  of this Part, the greater
				  of:
(i) the amount determined pursuant to
				  section 103.4(c)(1)  of
				  this Part reduced by the credit for reinsurance determined pursuant to the
				  Insurance Law and this Title, including Insurance Law section 1308, Part 79
				  (Insurance Regulation 133), Part 125 (Insurance Regulation 20), Part 126
				  (Insurance Regulation 114), Part 83 (Insurance Regulation 172), and Part 127
				  (Insurance Regulation 102) of this Title, and any other applicable regulations,
				  as applicable; and
(ii) the minimum
				  aggregate reserve after reflection of such reinsurance ceded calculated in
				  accordance with the methodology and assumptions prescribed by the valuation
				  manual;
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.1 - Introductory

Current through Register Vol. 46, No. 28, July 10, 2024
For the purpose of establishing uniformity in
					 classifications of expenses of property/casualty insurers recorded in
					 statements and reports filed with and statistics reported to the Superintendent
					 of Insurance, all such authorized insurers which are subject to the provisions
					 of article 23 of the Insurance Law shall observe the rules set forth
					 below.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.3 - Commissions and brokerage

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Direct.
Include:
All payments, reimbursements and allowances, on direct
					 writings, computed as a percentage of premiums for production, management or
					 other services to:
managers
supervising general agents
general agents
regional and district agents
local agents
office agents
brokers
solicitors
other producers and agents
Commissions and brokerage to employees when the activities
					 for which the commissions are paid are not a part of their duties as
					 employees.
Exclude:
Compensation to employees except as noted above (see
					 salaries).
Allowances, reimbursements and payments not computed as a
					 percentage of premiums (see allowances to managers and agents).
Expenses involved in transactions between insurance
					 companies (see joint expenses; commission and brokerage-reinsurance assumed and
					 ceded; expenses for account of another; and income from special
					 services).
Contingent commissions (see commission and
					 brokerage-contingent).
Fees of investment counsel (see legal and auditing).
Expenses includible in boards, bureaus and
					 associations.
Taxes on premiums (see taxes, licenses and fees).
Commission received for special services such as loss
					 adjustment and inspection not related to policies issued by the company (see
					 income from special services).
(b)
Reinsurance assumed.
(1) Commission and allowances of every nature
				  on reinsurance assumed including tax and board allowances and reinsurance
				  brokerage, except contingent commission, shall be included in "commission and
				  brokerage-reinsurance assumed."
(2)
				  Exception.
Where commission and allowances under reinsurance assumed
					 take the form of accurate proportions of actual expenses incurred, as in some
					 quota share and pooling agreement, entries shall be made to the actual
					 expenses.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.4 - Allowances to managers and agents

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Net allowances, reimbursements and payments for expenses of
					 every nature, not computed as a percentage of premiums, to managers, agents,
					 brokers, solicitors, and other producers.
Exclude:
Compensation to employees (see salaries and related
					 items).
Expenses of salaried employees (see travel and travel
					 items).
Expenses of management where one insurance company has been
					 appointed manager for another (see joint expenses; commission and
					 brokerage-reinsurance assumed and ceded; and expenses for account of
					 another).
Contingent commission (see commission and
					 brokerage-contingent).
Policy and membership fees (see commission and
					 brokerage-policy and membership fees).
Expenses in connection with owned real estate (see real
					 estate expenses).
Amounts representing exact reimbursements for losses,
					 taxes, licenses and fees, boards, bureaus and associations, and advertising,
					 where only the minimum space required by law is taken.
Amounts representing exact reimbursements for claim
					 adjustment services, surveys and underwriting reports and audit of assureds'
					 records when these services are performed by others than employees of managers,
					 agents, brokers, solicitors or other producers.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.5 - Advertising

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Cost of the following:
Services of advertising agents.
Public relations counsel.
Space in newspapers, periodicals, billboards, programs, and
					 other publications.
Circulars, pamphlets, calendars and literature issued for
					 advertising or promotional purposes.
Drawings, plates, etchings, etc., in connection with
					 advertising.
All charges for printing, paper, etc., in bills covering
					 advertising.
Media broadcasts (i.e., radio, television, etc.).
Prospect and mailing lists.
Signs, frames, medals, etc., for agents.
Souvenirs for general distribution.
Directory listings.
House organs and similar publications distributed to others
					 than employees.
Advertising required by law when more than the minimum
					 space required to comply with the law is taken.
Exclude:
Compensation to employees (see salaries and related
					 items).
Items includible in travel and travel items, claim
					 adjustment services, and boards, bureaus and associations.
Cost of literature, booklets, placards, signs, etc., issued
					 solely for accident and loss prevention (see surveys and underwriting
					 reports).
Advertising and business development expenses allowed,
					 reimbursed or paid to managers, agents, brokers, solicitors, and other
					 producers (see allowances to managers and agents).
Cost of help wanted advertising (see employee relations and
					 welfare).
Cost of advertising in connection with owned real estate
					 (see real estate expenses).
Cost of house organs and similar publications for the use
					 of employees (see printing and stationery).
Donations to organized charities (see
					 miscellaneous).
Cost of souvenirs not generally distributed (see travel and
					 travel items).
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.6 - Boards, bureaus and associations

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Dues, assessments, fees and charges of:
Underwriters' boards, rating organizations, statistical
					 agencies, inspection and audit bureaus.
Underwriters' advisory and service organizations.
Accident and loss prevention organizations.
Claim organizations.
Specific payments to boards, bureaus and associations for
					 rate manuals, revisions, fillers, rating plans and experience data.
Exclude:
Cost of inspection, engineering or accident and loss
					 prevention billed specifically to individual companies (see surveys and
					 underwriting reports).
Loss adjustment expenses billed specifically to individual
					 companies (see claim adjustment services).
Allowances under reinsurance contracts for board and bureau
					 expenses (see commission and brokerage-reinsurance assumed and ceded).
Payments to State industrial commissions (see taxes,
					 licenses and fees).
Payments into State security funds (see taxes, licenses and
					 fees).
Commission and brokerage, claim adjustment services, and
					 taxes, licenses and fees of underwriting syndicates, pools, and
					 associations.
Cost of survey, credit, moral hazard, character and
					 commercial reports obtained for underwriting purposes (see surveys and
					 underwriting reports).
Cost of commercial reporting services (see surveys and
					 underwriting reports).
Dues and subscriptions to social or civic clubs or affairs
					 (see travel and travel items).
Dues and subscriptions to accounting, legal, actuarial or
					 similar societies and associations (see travel and travel
					 items).
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.7 - Surveys and underwriting reports

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Cost of the following:
Survey, credit, moral hazard, character and commercial
					 reports obtained for underwriting purposes.
Commercial reporting services.
Appraisals for underwriting purposes.
Fire records.
Inspection, engineering, and accident and loss prevention
					 billed specifically.
Literature, booklets, placards, signs, etc., issued solely
					 for accident and loss prevention.
Maps and corrections.
Services of medical examiners for underwriting
					 purposes.
Exclude:
Compensation to employees (see salaries and related
					 items).
Expenses of salaried employees (see travel and travel
					 items).
Items includible in boards, bureaus and associations, claim
					 adjustment services, and allowances to managers and agents.
Cost of character or credit reports on employees or
					 applicants for employment (see employee relations and welfare).
Fees for physical examination of employees or applicants
					 for employment (see employee relations and welfare).
Income from inspections, which shall be classified in
					 accordance with the instruction "income from special
					 services."
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.8 - Audit of assureds' records

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Auditing fees and expenses of independent auditors for
					 auditing payrolls and other premium bases.
Exclude:
Compensation to employees (see salaries and related
					 items).
Expenses of salaried employees (see travel and travel
					 items).
Items includible in claim adjustment services.
Items includible in allowances to managers and
					 agents.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.9 - Salaries and related items

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Salaries: Include:
Salaries, bonus, overtime, contingent compensation, pay
					 while on leave, dismissal allowance, pay while training and other compensation
					 of employees.
Commission and brokerage to employees when the activities
					 for which the commission is paid are a part of their duties as
					 employees.
Exclude:
Salaries or wages of janitors, caretakers, maintenance
					 persons and agents paid in connection with owned real estate (see real estate
					 expenses).
(b) Payroll
				  taxes. Include:
Old age benefit taxes.
Unemployment insurance taxes.
Exclude:
Payroll taxes includible in real estate
					 taxes.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.10 - Employee relations and welfare

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Pensions and insurance benefits for
				  employees. Include:
Cost of retirement insurance.
Payments or appropriations to funds irrevocably devoted to
					 the payment of pensions or other employees' benefits.
Pensions or other retirement allowances.
Accident, health and hospitalization insurance for
					 employees.
Group life insurance for employees.
Workers' compensation insurance.
Payments to or on behalf of employees under
					 self-insurance.
Any other insurance for the benefit of employees.
The net periodic post-retirement benefit cost.
Earned amounts related to ESOP plans.
Payments by company under a program for stock options,
					 purchase and award plans (including change in quota market value).
Exclude:
Cost of insurance on lives of employees when the company is
					 the beneficiary (such cost shall not appear among expenses, but shall be
					 charged to surplus).
Payments or appropriations to pension funds not irrevocably
					 devoted to the payment of pensions or other employees' benefits (such payments
					 or appropriations shall not appear among expenses).
Items includible in real estate expenses.
All other types of insurance premiums.
(b) All other. Include:
Cost of:
Advertising--help wanted.
Training and welfare of employees.
Physical examinations of employees or applicants for
					 employment.
Character or credit reports on employees or applicants for
					 employment.
Gatherings, outings and entertainment for employees.
Visiting nurse service for or on behalf of
					 employees.
Medical and hospital bills for employees (not covered by
					 subdivision [a] of this section).
Direct payments, other than salaries, to employees for
					 injury and sickness (not covered by subdivision [a] of this section).
Supper money.
Donations to or on behalf of employees.
Food and catering for employees.
Exclude:
Salaries, bonus, overtime, contingent, pay while on leave,
					 dismissal allowances, pay while training and other compensation of employees
					 (see salaries and related items).
Items includible in real estate expenses.
Cost of house organs and similar publications (see
					 advertising, and printing and stationery).
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.11 - Insurance

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Fidelity or surety bonds covering employees and
					 agents.
Burglary and robbery insurance premiums.
Public liability insurance premiums (excl. owned real
					 estate).
Premiums for insurance on office contents.
Cost of insurance on automobiles.
All other insurance premiums not specifically provided for
					 in other operating accounts.
Exclude:
Items includible in employee relations and welfare.
Items includible in real estate expenses.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.12 - Directors' fees

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Directors' fees and other compensation of directors for
					 attendance at board or committee meetings.
Other fees, compensation, and expenses paid to
					 directors.
Exclude:
Commission to directors for the production of business (see
					 commission and brokerage-direct).
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.13 - Travel and travel items

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Transportation, hotel, meals, postage, telephone,
					 telegraph, express and incidental living expenses of employees while
					 traveling.
Expenses for transfer of employees.
Depreciation, repairs and other operating expenses of
					 automobiles.
Rent of automobiles.
Fees for automobile license plates.
Cost of insurance on automobiles.
Cost of transportation, hotel, meals and entertainment of
					 guests.
Cost of favors and presents given or extended to others
					 than employees.
Cost of souvenirs not generally distributed.
Dues and subscriptions to social or civic clubs or
					 affairs.
Dues and subscriptions to accounting, legal, actuarial, or
					 similar societies and associations.
Exclude:
Items includible in salaries, advertising, commission and
					 brokerage, taxes, licenses and fees, boards, bureaus and associations, and
					 equipment.
Cost of gatherings, outings, etc., and entertainment for
					 employees (see employee relations and welfare).
Travel and travel items paid, reimbursed, or allowed to
					 managers, agents, brokers, solicitors and other producers (see allowances to
					 managers and agents).
Items includible in real estate expenses.
Donations to organized charities (see
					 miscellaneous).
Cost of souvenirs for general distribution (see
					 advertising).
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.14 - Rent and rent items

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Rent of home office and branch offices.
Rent for space occupied in buildings owned.
Light, heat, power and water charges in leased
					 premises.
Interest, taxes, etc., paid in lieu of rent for leased
					 premises.
Cost of alterations and repairs of leased premises.
Public liability insurance premiums.
Rent of storage, safekeeping and warehouse space.
Rent of safe deposit boxes.
Rent of post office boxes.
Time clock service charges.
Cost of cleaning, towels, ice, water, electric lamp
					 replacements and other expenses incidental to office maintenance.
Amortization expense of leasehold improvements as
					 lessee.
Exclude:
Compensation to employees (see salaries and related
					 items).
Rent of furniture, equipment, and office machines (see
					 equipment).
Rent of automobiles (see travel and travel items).
Rent allowed, reimbursed, or paid to managers, agents,
					 brokers, solicitors and other producers (see allowances to managers and
					 agents).
Items includible in real estate expenses. Rent income from
					 owned real estate.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.15 - Equipment

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Rent and repairs of furniture, equipment and office
					 machines including printers' equipment, postage machines and data processing
					 equipment.
Depreciation on furniture, equipment and office
					 machines.
Exclude:
Compensation to employees (see salaries and related
					 items).
Rent, repairs and depreciation of automobiles (see travel
					 and travel items).
Cost of insurance on automobiles (see travel and travel
					 items).
Cost of alterations and repairs of leased premises (see
					 rent and rent items).
Equipment expenses allowed, reimbursed or paid to managers,
					 agents, brokers, solicitors and other producers (see allowances to managers and
					 agents).
Items includible in real estate expenses.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.16 - Cost of depreciation of edp equipment and software

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Depreciation and amortization expense for electronic data
					 processing equipment, operating and nonoperating systems
					 software.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.17 - Printing and stationery

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Cost of the following:
Printing, stationery and office supplies such as:
					 letterheads, envelopes, paper stock, printed forms or manuals, adding machine
					 tape, carbon paper, binders and posts, photostatic copies, pencils, pens,
					 leads, ink, glue, stamps and stamp pads, staplers, staples, clips and pins,
					 desk top equipment (calendars, trays, etc.), waste baskets, analysis pads,
					 ledgers, journals, minute books, etc.
Policies and policy forms.
House organs and similar publications for the use of
					 employees.
Books, newspapers and periodicals including investment, tax
					 and legal publications and services.
Exclude:
Compensation to employees (see salaries and related
					 items).
Specific payments to boards, bureaus and associations for
					 rate manuals, revisions, fillers, rating plans and experience data (see boards,
					 bureaus and associations).
Cost of the following:
Literature, booklets, placards, signs, etc., issued solely
					 for accident and loss prevention (see surveys and underwriting reports).
Items includible in claim adjustment services.
Items includible in advertising.
Printers' equipment in company owned printing departments
					 (see equipment).
Printing and stationery allowed, reimbursed or paid to
					 managers, agents, brokers, solicitors and other producers (see allowances to
					 managers and agents).
House organs and similar publications distributed to others
					 than employees (see advertising).
Commercial reporting services (see surveys and underwriting
					 reports).
Items includible in real estate expenses.
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.18 - Postage, telephone and telegraph, exchange and express

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Express, freight and cartage.
Postage.
Cost of telephone and telegrams, cables, radiograms and
					 teletype.
Bank charges for collection and exchange.
Exclude:
Compensation to employees (see salaries and related
					 items).
Rent, repairs and depreciation of postage machines (see
					 equipment).
Postage, telephone, telegraph and express of employees
					 while traveling (see travel and travel items).
Postage, telephone and telegraph, exchange, and express
					 allowed, reimbursed or paid to managers, agents, brokers, solicitors and other
					 producers (see allowances to managers and agents).
Profits or losses resulting from exchange on remittances to
					 home office by a United States branch. Such profits or losses shall not be
					 included in expenses.
Items includible in real estate expenses.
Rent of post office boxes (see rent and rent
					 items).
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 105 - Operating Expense Classification For Annual Statement Purposes › Section 105.19 - Legal and auditing

Current through Register Vol. 46, No. 28, July 10, 2024
Include:
Legal retainers, fees and other legal expenses (except on
					 losses and salvage).
Auditing fees of independent auditors for examining records
					 of home and branch offices.
Cost of services of tax experts.
Fees of investment counsel.
Registrar fees.
Custodian fees.
Trustees' fees.
Transfer agent fees.
Fees and expenses of others than employees, for collecting
					 balances.
Notary fees.
Exclude:
Compensation to employees (see salaries and related
					 items).
Expenses of salaried employees (see travel and travel
					 items).
Items includible in claim adjustment services.
Items includible in real estate expenses.
Cost of auditing of assureds' records (see audit of
					 assureds' records).