Pursuant to Chapter 30A and the authority granted to the Commissioner of Insurance ("Commissioner") under Chapter 175, § 9 of the Massachusetts General Laws, a hearing will be held at the Division of Insurance, One South Station, Boston, MA 02110-2208 on January 5, 2010 at 10:30 a.m.
The purpose of this hearing is to afford all interested persons an opportunity to provide oral and written comments regarding the proposed amendment of regulation 211 CMR 58.00, Permitting the Recognition of Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities. 211 CMR § 58.00 permits life insurers to use specific mortality tables that recognize the difference between preferred and standard lives when determining minimum reserve liabilities, and applies to policies with an issue date of January 1, 2007 or later.
The proposed amendment to 211 CMR § 58.00 allows life insurers to use the preferred mortality tables for policies with an issue date between January 1, 2004 and January 1, 2007, subject to prior approval by the Commissioner.
The proceedings concerning the proposed amendment to 211 CMR 58.00 Proposed (Clean) , Proposed (Redlined) shall be designated as Docket # G-2009-09. Any person who wishes to provide oral comment concerning this proposed regulation must file a Notice of Intent to Comment with the Docket Clerk no later than January 4, 2010. Persons wishing to submit written comments may do so until the record of the hearing is closed. All submissions must be sent to the Docket Clerk, Hearings and Appeals, Division of Insurance, One South Station, Boston, MA 02110-2208 and must refer to Docket # G2009-09. Persons who do not file such a Notice will be heard after those who do notify the Division. Copies of the proposed regulation are available from the Division of Insurance.
Joseph G. Murphy
|Dated: December 10, 2009||Acting Commissioner of Insurance|