ny-DFS-38-26-00006-P: Private Passenger Motor Vehicle Insurance Multi-Tier Programs

I.D. No. DFS-38-26-00006-P PURSUANT TO THE PROVISIONS OF THE State Administrative Pro- cedureAct, NOTICE is hereby given of the following proposed rule: Proposed Action: This is a consensus rule making to amend Part 154 of Title 11 NYCRR. Statutory authority: Financial Services Law, sections 202, 302; Insurance Law, section 30; L. 2026, ch. 55, part JJ Subject: Private Passenger Motor Vehicle Insurance Multi-Tier Programs. Purpose: To repeal regulation made redundant by new Insurance Law sec- tion 2341. Text of proposed rule: Section 154.6 is hereby repealed. Text of proposed rule and any required statements and analyses may be obtained from: Joana Lucashuk, New York State Department of Financial Services, One State Street, New York, NY 10004, (212) 480-2125, email: Joana.Lucashuk@dfs.ny.gov Data, views or arguments may be submitted to: Same as above. Public comment will be received until: 60 days after publication of this notice. This rule was not under consideration at the time this agency submitted its Regulatory Agenda for publication in the Register. Consensus Rule Making Determination 11 NYCRR section 154.6 currently states that an insurer may not use an individual’s education level attained or occupational status (i.e., type of occupation) as a factor in either initial tier placement, tier movement, or the establishment of the rates for private passenger motor vehicle insur- ance, unless the insurer demonstrates to the satisfaction of the Superinten- dent of Financial Services that its use of education level attained or oc- cupational status in initial tier placement or tier movement will not result in a rate that violates Insurance LawArticle 23. On May 27, 2026, Governor Kathy Hochul signed into law Part JJ of Chapter 55 of the Laws of 2026 (“Part JJ”), which added a new Insurance Law section 2341. Section 2341 prohibits an insurer, in relevant part, from using occupational status (i.e., whether a person has an occupation) or type of occupation and education level attained as the sole basis for initial tier placement, tier movement, or the establishment of rates for private Rule MakingActivities passenger motor vehicle insurance. Part JJ takes effect on November 23, 2026. Since 11 NYCRR section 154.6 is no longer necessary, given new In- surance Law section 2341, the Department of Financial Services does not anticipate any objection to the repeal of this section from insurers or other stakeholders. Accordingly, this rulemaking is determined to be a consensus rulemak- ing, as defined in State Administrative Procedure Act (“SAPA”) section 102(11), and is proposed pursuant to SAPAsection 202(1)(b)(i).Therefore, this rulemaking is exempt from the requirements to file a Regulatory Impact Statement, Regulatory Flexibility Analysis for Small Businesses and Local Governments, and a RuralArea FlexibilityAnalysis. Job Impact Statement The New York State Department of Financial Services finds that this rule will not adversely impact jobs or employm