Which agency currently regulates health insurance producers and health insurance products in New York State?
A. The NY Department of Financial Services (DFS)
B. The NY Department of Health
C. The NY Department of State
D. The NY Insurance Department
Source: NY Financial Services Law (Ch. 62 of Laws of 2011); DFS successor agency
In what year did the former NY Insurance Department merge into the newly created Department of Financial Services?
A. 2010
B. 2011
C. 2013
D. 2014
Source: NY Financial Services Law, 2011 merger legislation (effective October 3, 2011)
Along with the Insurance Department, which other former state agency's functions were absorbed into DFS in the 2011 merger?
A. The NY Department of Health
B. The NY Department of State
C. The NY Banking Department
D. The NY Department of Taxation and Finance
Source: NY Financial Services Law, 2011 merger legislation
Who heads the Department of Financial Services and holds authority to approve or reject health insurance premium rate filings in New York?
A. The Commissioner of Health
B. The Attorney General
C. The State Comptroller
D. The Superintendent of Financial Services
Source: NY Financial Services Law § 102
Each year, health insurers doing business in New York submit which type of filing to DFS, which DFS can approve, reduce, or reject?
A. Premium rate filings
B. Marketing budgets
C. Producer commission schedules
D. Claims adjuster license renewals
Source: DFS annual rate review process, NY Insurance Law Art. 32
