Life Statistical Agent Appointed by the NYDFS

Life Statistical Services

As the Life Statistical Agent appointed by the New York Department of Financial Services ("NYDFS"), MIB Solutions enables companies to comply with the experience reporting mandated in the amended NYDFS Regulations 147 and 179.

Beginning in 2010, the NYDFS requires certain companies with annual life premiums greater than $10 million to file their mortality experience with a statistical agent annually. The initial implementation of this requirement addresses only mortality experience related to individual life insurance.

MIB Solutions is well suited to assist insurance companies in complying with experience reporting. We can efficiently accept, validate and analyze any company's experience data and submit required reporting in compliance with NYDFS regulations. MIB Solutions' capabilities have been developed through years of similar industry experience reporting and through collaboration with regulators and industry representatives on addressing statistical agent issues in life insurance and related lines of business.

In addition to strong familiarity with relevant regulations, MIB Solutions maintains a clear understanding of the needs of companies to meet their compliance goals in this changing regulatory environment.