Pursuant to Executive Order No. 25 from the New York State Governor’s office establishing a Regulatory Review and Reform Program, the New York State Insurance Department (the “Department”) is inviting comments from regulated entities and other interested parties to identify existing regulations that impose unnecessary, burdensome or excessive costs, paperwork or other requirements. The comments must describe and quantify the particular burden and must suggest remedies that the Department can undertake to eliminate or amend regulations that are unnecessary, or otherwise unduly burdensome. Comments must be received by May 24, 2010.
Executive Order No. 25 also establishes a Review Committee that has been tasked with coordinating and overseeing the review of this reform across all New York agencies. State agencies designated from time to time as participating agencies must conduct an internal review, as well as outreach to interested parties, to identify areas for reform. Agencies must consider the cost benefit principles stated in the guide issued by the Governor’s Office of Regulatory Reform, and certain criteria contained in the State Administrative Procedure Act, Executive Order No. 20 and Executive Order No. 17.
To view Executive Order No. 25, click here.