ny-DFS-38-26-00007-P: Financial Statement Filings and Accounting Practices and Procedures

I.D. No. DFS-38-26-00007-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 83 of Title 11 NYCRR. Statutory authority: Financial Services Law, sections 202, 302; Insurance Law, sections 107(a)(2), 301, 307, 308, 1109, 1301, 1302, 1308, 1404, 1405, 1407, 1411, 1414, 1501, 1505, 3233, 4117, 4233, 4239, 4301, 4310, 4321-a, 4322-a, 4327, 6404; Public Health Law, art. 44 Subject: Financial Statement Filings and Accounting Practices and Procedures. Purpose: To update reference to the 2026 edition of the NAICAP&PMan- ual and make non-substantive, technical changes to section 83.4. Text of proposed rule: Section 83.2(c) is amended as follows: (c) To assist in the completion of the financial statements, the NAIC also adopts and publishes from time to time certain policy, procedure, and instruction manuals. The latest of these manuals, theAccounting Practices 1 and Procedures Manual as of March [2024] 2026 (accounting manual), includes a body of accounting guidelines referred to as statements of statu- tory accounting principles (SSAPs). The accounting manual shall be used in the preparation of quarterly statements and the annual statement for [2024] 2026, which will be filed in [2025] 2027. ——————————— 1 ACCOUNTING PRACTICESAND PROCEDURES MANUALAS OF MARCH [2024] 2026 (“Manual”), Copyright 1999 – [2024] 2026 by National Association of Insurance Commissioners (“NAIC”), 1100 Walnut Street, Suite 1000, Kansas City, MO 64106-2197. The Manual is available for purchase in electronic format only from the NAIC at https://content.naic.org/publications. The Manual is available for view- ing at the department by appointment only by sending an email to regnotification@dfs.ny.gov or by writing to NewYork State Department of Financial Services, Office of General Counsel, One State Street, 20th Floor, New York, NY 10004. ——————————— Section 83.4(e), (f), (h), (i)(1)-(3) and (6), (l), (p), (r), (s) and (t) are amended as follows: (e) SSAP No. [22R] 22, “Leases”, is adopted with the following addition: Leases entered into by article 43 corporations, Public Health Law article 44 health maintenance organizations, and integrated delivery systems, ap- proved for capitalization by the superintendent prior to January 1, 2001, shall be admitted. Leases entered into by comprehensive HIV special needs plans and prepaid health service plans, approved for capitalization by the Commissioner of Health prior to January 1, 2001, shall be admitted. 7 Rule MakingActivities Effective January 1, 2001, all new leases shall be accounted for in accor- dance with SSAP No. [22R] 22. ***** (f)(1) Paragraph [6] 7 of SSAP No. 25, “Affiliates and Other Related Parties”, is not adopted. Insurance Law section 1501(c) provides that the superintendent may determine upon application that any person does not, or will not upon the taking of some proposed action, contro