N.Y. Insurance Law Section 302
Supervisory colleges


(a)

The superintendent may participate in a supervisory college in order to determine compliance with this chapter with respect to an insurer that is registered under article fifteen, sixteen, or seventeen of this chapter and has international operations. The powers of the superintendent with respect to supervisory colleges include:

(1)

initiating the establishment of a supervisory college;

(2)

clarifying the membership and participation of other supervisors in the supervisory college;

(3)

clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor;

(4)

coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and

(5)

establishing a crisis management plan.

(b)

Each insurer registered under article fifteen, sixteen, or seventeen of this chapter that is subject to a supervisory college shall be liable for and shall pay the reasonable expenses of the superintendent’s participation in a supervisory college, including reasonable travel expenses. A supervisory college may be convened as either a temporary or permanent forum for the communication and cooperation between the regulators charged with the supervision of the insurer or its parent, affiliates, or subsidiaries. The superintendent may establish a regular assessment to the insurer for the payment of these expenses.

(c)

In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers, the superintendent may participate in a supervisory college with other regulators charged with supervision of the insurer or its parent, affiliates, or subsidiaries, including other state, federal, and international regulatory agencies. The superintendent may enter into agreements pursuant to § 110 (Cooperation with other regulatory agencies)section one hundred ten of this chapter providing the basis for cooperation between the superintendent and other regulatory agencies and for the activities of the supervisory college. Nothing in this section shall delegate to the supervisory college the superintendent’s authority to regulate or supervise the insurer or its parent, affiliates, or subsidiaries within the superintendent’s jurisdiction.

Source: Section 302 — Supervisory colleges, https://www.­nysenate.­gov/legislation/laws/ISC/302 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

301
Regulations by superintendent
302
Supervisory colleges
306
Immunity from prosecution
307
Annual statements
308
Special reports
309
Examinations of insurers
310
Examinations
311
Filing of report on examination
312
Report on examination to be forwarded
314
Public retirement and pension systems
315
Professional malpractice or misconduct
316
Electronic filings
317
Compliance with reporting requirements of the financial security act
318
Reports of fire losses
319
Release of information resulting from insurers’ investigation of fires
320
Records to be made available by organizations subject to the provisions of this chapter
321
Medical information exchange centers
322
Prohibited referral payment to licensees by motor vehicle repairers
325
Records of domestic insurers
329
Certificates as evidence
330
Rating services available to other states
331
Superintendent to maintain index of tax districts
333
Assessments to defray expenses of Committee on Valuation of Securities of the National Association of Insurance Commissioners
335
Implementation of hospital reimbursement methodology
336
War risk exclusion
337
Annual consumer guide on automobile insurance
339
Colorectal cancer screening notification
340
Report of claims that may result in a monetary award
341
Notification regarding qualified health insurance plans
342
Public awareness to finance long term care
343
Mental health and substance use disorder parity report
344
Mental health and substance use disorder parity compliance programs
345
Health care claims reports

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 302’s source at nysenate​.gov

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