Relates to the approval of policy forms

This 2006 New York law exempts certain large-group life and health insurance policies from state filing and approval requirements. It applies specifically to policies issued to groups with 500+ employees or members, managed by a "qualified benefits manager" (as defined by the bill). Insurers must file an annual list of these exempt policies with the state insurance regulator instead of seeking prior approval. The regulator retains authority to issue cease-and-desist orders for policies violating laws but cannot disapprove exempt policies themselves.