NY regulators propose new life insurance price hike rule

November 21, 2016 by Joel Stashenko

For the first time, life insurers would be required to give New York State regulators and consumers advance notice of when the companies intend to raise premiums on life insurance and annuity policies, under a new rule proposed by the state Department of Financial Services.

A 45-day comment period about the new proposal would begin once it is published in the official State Register on Nov. 30. If left unaltered by the department based on that feedback, the regulation would go into effect in early 2017, according to the department.

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Originally Posted at LifeHealthPro on November 21, 2016 by Joel Stashenko.