The New York State Senate on March 27 overwhelmingly passed a NAIFA-NYS-initiated bill requiring the Superintendent of Financial Services to grant six continuing education credits for all active members of a statewide professional insurance producer association passed the State Senate today.

The top priority bill on the 2018 NAIFA-NYS affirmative legislative agenda, S3960 – sponsored by Senate Insurance Committee Chair James Seward (R-Milford) and Sen. Joseph Robach (R-Greece) – defines a “statewide professional insurance producer association” and lists the requirements that the licensed producer and professional insurance association must meet for the insurance to be considered “active” for the continuing education credits.

The bill outlines the information that must be provided by both the licensed insurance producer and statewide professional insurance producer association to the Superintendent in order to obtain such continuing education credits.

“New York’s insurance producer associations, Including NAIFA-NYS, promote professionalism, best practices, ethical compliance, continuing education training, networking and mentoring opportunities to their members,” said NAIFA-NYS President Joseph M. Tavernite, CLF.

“By requiring the DFS Superintendent to grant six credit hours of continuing education credits for membership in good standing of a qualified association,” he said, “this bill encourages membership and active participation in these association’s meetings, conferences and educational seminars to the benefit of New York State, the insurance industry, insurance producers and the public.”

Next Steps:

The bill now heads to the State Assembly where the companion bill – A7012 – is sponsored by Assemblymember Pamela Hunter (D-Syracuse), a member of the Assembly Insurance Committee.

NAIFA-NYS will be working with Assemblymember Hunter and Insurance Committee Chair Kevin Cahill (D-Kingston) to move the bill out of committee for a vote on the Assembly floor.