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So far naifa-nys has created 67 blog entries.

U.S. Life Expectancy Drops for 3rd Consecutive Year

By | November 29th, 2018|Categories: News Alerts|

In 2017, according to the Center for Disease Control and Prevention's National Center for Health Statistics (NCHS), the average American could expect to live 78.6 years.  That's a shorter life expectancy than in 2016 and even shorter than in 2015 and is attributable to a rise in suicides and drug overdose deaths, in numbers that offset [...]

NAIC “Enhanced” Annuity Suitability Draft Has Its Critics

By | October 30th, 2018|Categories: News Alerts|

An NAIC working group has developed a draft regulation imposing tougher annuity suitability standards, but the proposal doesn't go nearly far enough for some interested parties, including a consumer representative who often weighs in critically on regulator efforts.  The NAIC likely will not adopt the tougher regulation, however, until the SEC finalizes its "best interest" rule.  [...]

NAIC Annuity Suitability Group is “Deeply Split” over In-Force Policy Issue

By | October 23rd, 2018|Categories: News Alerts|

The National Association of Insurance Commissioners (NAIC) Annuity Suitability Working Group--which is plodding its way through creation of an enhanced suitability regulation for annuities--is divided on whether to apply the tougher standards to in-force transactions.  At a recent Working Group meeting in Chicago, New York led the effort to apply enhanced suitability to in-force policies (just [...]

NAIC Moves Forward with New Approach to Annuity “Suitability”

By | October 15th, 2018|Categories: News Alerts|

State regulators on the NAIC Annuity Suitability Working Group--which is charged with revamping the NAIC's model annuity suitability regulation in light of growing interest in "best interest" standards--will meet in Chicago on October 22-23.  The purpose is to resolve dozens of proposed amendments to the model, so that the full NAIC Life Insurance and Annuities (A) [...]

The DOL Fiduciary Duty Rule Is Dead

By | June 21st, 2018|Categories: News Alerts|

On June 21, the 5th Circuit Court of Appeals issued a mandate that made effective the Court's March 15 decision vacating - in full - the Department of Labor (DOL) fiduciary duty rule.  The mandate also required the DOL to reimburse plaintiffs for their legal costs to appeal. The Court was expected to hand down its [...]

Life Agents to DFS: Suspend Reg 187 Effort So All Parties Can Discuss Issues, Ideas

By | June 19th, 2018|Categories: New York Issues, News Alerts|

Life Agents to Regulators: Slow Down So We Have a Chance to Chat - NAIFA-NYS Advocating DFS to Suspend Reg 187 Effort Until All Interested Parties Can Roundtable Issues and Ideas   Albany, New York, June 19, 2018 — ‎The National Association of Insurance and Financial Advisors-New York State on Friday announced that it has requested [...]

GMR Legislative Breakfast: A Real Eye-Opener

By | June 15th, 2018|Categories: Member News|

The Greater Metro Region (GMR) is rebuilding itself after years of struggle, and the latest GMR legislative event, held on June 1 in Uniondale, proved that, slowly but surely, GMR members are coming back.  The breakfast featured no-holds-barred discussion of the DFS amendments to the Regulation 187 suitability rule--amendments that create a "best interest" requirement for in-force [...]

Hudson Valley Takes Its Legislative Breakfast to the Diner

By | June 15th, 2018|Categories: Member News|

Diners are great places for discussion, whether among family and friends or our Hudson Valley members at their 2018 legislative breakfast.  Held on April 20 at Alexis Diner in Newburgh, the event featured Assembly Insurance Committee Chair Kevin Cahill speaking about local issues as well as insurance and political topics of the day, and the NAIFA-NYS [...]

Legislative Breakfasts Come to Mohawk Valley

By | June 15th, 2018|Categories: Member News|

NAIFA-NYS legislative breakfasts aren't always big affairs--but that makes them no less interesting, enjoyable, and important.  The March 9, 2018 Mohawk Valley association event was a wonderful opportunity, as it was last year, to present and discuss the issues that NAIFA-NYS members need to understand...Governor Cuomo's plan for a private-sector state-run retirement plan, a pending DFS "best interest" standard [...]

Syracuse Members, Legislators Discuss Issues of the Day

By | June 15th, 2018|Categories: Member News|

The 2018 Syracuse legislative breakfast--delayed a few weeks thanks to a snowstorm that even our Syracuse members wouldn't venture out in--took place on March 23rd at Justin's Tuscan Grill.  Local lawmakers, including Senate Majority Leader John DeFrancisco, were there to weigh in on life insurance and financial services issues affecting New York...and there was strong support [...]