In the afternoon of Tuesday, June 4 the NYS Senate passed our Continuing Education Credit bill (S4365) in a 60-0 vote — a big win for NAIFA-NYS advocacy. The bill would grant three (3) CE credits for active membership in a “statewide professional insurance producer association” like NAIFA-NYS and would define such as organization as one that, among other things:
- has existed for at least 10 years
- is dedicated to promoting integrity, trust, professionalism, and business interests of its members through education/advocacy/social interaction
- issues a professional publication at least quarterly & other instructional guidance throughout the year
The bill lists what a licensed producer must do to be considered “active” (have dues paid in full, have read the association’s code of ethics, have attended at least one CE-certified session that the association held, etc.). The proposal also creates a process by which the association would file with DFS a list of its members in good standing.
The Assembly companion (A5922) is being considered by the Assembly Insurance Committee.
Last year, a version of our bill—which would have granted six (6) rather than three (3) CE credits—passed the Senate by 62-1 and the Assembly unanimously. Governor Cuomo vetoed the legislation, however, saying that the number of CE credits was too great.
S4365 is sponsored by Senate Insurance Committee Chair Neil Breslin and member John Brooks. A5922 is sponsored by Assemblywoman Pamela Hunter, with strong support from Assembly Insurance Committee Chair Kevin Cahill.