Market Conduct Profiles for 2007

Posted on December 20, 2007 by Cailie Currin

The New York State Insurance Department has recently posted a document that sets out the changes that have been made to the the Market Conduct Profile for 2007. 

Of particular note for NY domestics is number 6 on this list of changes.  This is an explanation of the change made to the Marketing and Sales Activities section of the Market Conduct Profile for 2007 to request an "excel file containing information about policy forms authorized for issue outside of State of New York. (sic, emphasis added)  For the year 2007, this information is for the period July 26, 2007 to December 31, 2007. "   This new filing requirement is the result of the statutory change to section 3201 on out-of-state filings.    

 

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Unbelievable Turn Around Times!!!

Posted on December 7, 2007 by Cailie Currin

Several of my recent filings have had just incredible turn arounds.  Today I received an approval dated December 5 on a filing that the NY Department received on December 4!!!  Just 1 day from submission to approval! 

More typical of recent submissions is 4-5 days, but when a week seems like a long turn around time, it is truly amazing!  Thanks so much to all those at the NYSID who have worked to improve the systems and get us to the place where certified filings can turn around in a week.  Even if not all of them do, it is certainly an incentive to make clean filings!

What a thrill it is to get a 1-day turn around!  (OK, I guess I need to get some more excitement into my life, but until I do, this is great!!!)

 

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