Relates to the approval of policy forms

S 5341 exempts certain large group life insurance policies (with 500+ employees) from standard filing and approval requirements with New York's insurance superintendent. It specifically applies to policies issued to "large group policyholders" managed by a "qualified benefits manager" (a fiduciary with specific education/experience). Insurers must still file an annual list of these exempt policies but face limited superintendent oversight - disapproval authority is restricted, and policies must meet minimum protection standards. The bill also clarifies that exempt policies must contain a notice stating they are not subject to state filing requirements.