2019 New York Laws
ISC - Insurance
Article 3 - Administrative and Procedural Provisions
302 - Supervisory Colleges.

§ 302. Supervisory colleges. (a) The superintendent may participate in
a supervisory college in order to determine compliance with this chapter
with  respect  to  an  insurer that is registered under article fifteen,
sixteen, or seventeen of this chapter and has international  operations.
The  powers  of  the superintendent with respect to supervisory colleges
include:
  (1) initiating the establishment of a supervisory college;
  (2) clarifying the membership and participation of  other  supervisors
in the supervisory college;
  (3)  clarifying  the functions of the supervisory college and the role
of  other  regulators,  including  the  establishment  of  a  group-wide
supervisor;
  (4)  coordinating  the  ongoing activities of the supervisory college,
including planning meetings, supervisory activities, and  processes  for
information sharing; and
  (5) establishing a crisis management plan.
  (b)  Each  insurer  registered  under  article  fifteen,  sixteen,  or
seventeen of this chapter that is subject to a supervisory college shall
be  liable  for  and  shall  pay  the   reasonable   expenses   of   the
superintendent's  participation  in  a  supervisory  college,  including
reasonable travel expenses. A supervisory college  may  be  convened  as
either  a  temporary  or  permanent  forum  for  the  communication  and
cooperation between the regulators charged with the supervision  of  the
insurer  or  its parent, affiliates, or subsidiaries. The superintendent
may establish a regular assessment to the insurer  for  the  payment  of
these expenses.
  (c)  In  order  to  assess  the business strategy, financial position,
legal and  regulatory  position,  risk  exposure,  risk  management  and
governance  processes,  and  as  part  of  the examination of individual
insurers, the superintendent may participate in  a  supervisory  college
with  other  regulators  charged  with supervision of the insurer or its
parent, affiliates, or subsidiaries, including other state, federal, and
international regulatory agencies. The  superintendent  may  enter  into
agreements pursuant to section one hundred ten of this chapter providing
the   basis   for  cooperation  between  the  superintendent  and  other
regulatory agencies and for the activities of the  supervisory  college.
Nothing  in  this  section shall delegate to the supervisory college the
superintendent's authority to regulate or supervise the insurer  or  its
parent,   affiliates,   or   subsidiaries  within  the  superintendent's
jurisdiction.